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Bitcoin miner tied to Trump family goes public via merger, plans $2.1B equity raise for expansion

02 Nov 2026, 14:05 WIB
Crypto Briefing
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Bitcoin miner tied to Trump family goes public via merger, plans $2.1B equity raise for expansion

American Bitcoin Corp., backed by Eric and Donald Trump Jr. and majority-owned by Hut 8, went public by merging with Gryphon Digital Mining and now trades on Nasdaq as ABTC. The company aims to grow by mining and buying Bitcoin, having increased its holdings from a few hundred to over 5,000 Bitcoin by early 2026. It has filed for an at-the-market equity offering of up to $2.1 billion to fund Bitcoin purchases, mining expansion, and new hardware, though this raises dilution concerns for investors. Control remains concentrated with pre-merger shareholders and Hut 8, while the stock has experienced significant volatility since debut.

American Bitcoin Corp.'s public market debut is the backdrop for this snapshot of major cryptocurrencies on Pluang. For readers following digital assets, here is Pluang's market snapshot as of Nov 02, 2026 18:41 WIB: out of 50 major cryptocurrencies, 5 rose and 44 fell today. EGLD (MultiversX) traded at Rp60.369 with a 1-day change of -3.99% and Pluang order activity showing 95% Sell / 5% Buy, GRT (The Graph) was at Rp356 with a -3.97% change and 45% Sell / 55% Buy order activity, and THETA (Theta Network) stood at Rp2.790 with a -3.89% change and 61% Sell / 39% Buy order activity. Typical hold times ranged from 78 to 99 days.

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