TLDR
- American Bitcoin (ABTC) stock jumped 16.5% to $8.04 in Nasdaq trading debut, hitting $14.52 intraday
- Trump sons Donald Jr. and Eric own 20% stake now worth $1.5 billion at closing price
- Company expanded Bitcoin mining hashrate 2.4x from 10 EH/s to 24 EH/s capacity
- Plans $2.1 billion share offering to buy more Bitcoin and mining equipment
- Mining costs run about 50% of Bitcoin revenue, showing strong profit margins
American Bitcoin stock surged 16.5% to $8.04 Wednesday in its first day on the Nasdaq. Shares peaked at $14.52 before settling lower.
The Bitcoin mining company counts Donald Trump Jr. and Eric Trump as major shareholders. The brothers own roughly 20% of American Bitcoin according to Executive Chairman Asher Genoot.
Their stake closed worth $1.5 billion based on 908.6 million outstanding shares. At the stock’s daily high, their holdings hit $2.6 billion in value.
Eric Trump serves as co-founder and chief strategy officer at the company. He says crypto now represents half his business activities.
“Crypto is exploding,” Eric Trump said Wednesday. “The crypto space is at least 50% of what I’m doing.”
Mining Operations Triple in Size
American Bitcoin recently completed a major expansion of its mining capabilities. The company grew its Bitcoin mining hashrate from 10 EH/s to 24 EH/s.
This 2.4x increase required adding approximately 14 EH/s of new mining power. The expansion uses around 16,300 ASIC servers across the network.
The mining fleet averages 16.4 J/TH efficiency as of September 1. In Q2 2025, mining costs equaled about 50% of Bitcoin revenue per coin mined.
New miners operate at the 205-megawatt Vega data center. Hut 8 Corp runs this facility and owns 80% of American Bitcoin.
The center uses direct-to-chip liquid cooling for ASIC servers. Each rack supports up to 180 kW of mining equipment.
Fundraising Plans and Family Empire
American Bitcoin filed to sell $2.1 billion in new shares Wednesday. Proceeds will fund Bitcoin purchases and additional mining hardware.
The Trump family has built multiple crypto ventures beyond American Bitcoin. World Liberty Financial launched $WLFI tokens Monday and has generated $500 million since last year.
The family also launched meme coins before President Trump’s January inauguration. These ventures mark a shift from traditional Trump Organization real estate projects.
Eric Trump has traveled to Dubai, Hong Kong and Tokyo promoting crypto interests. He positions himself as an industry spokesperson.
“Crypto had a very bad voice for a long time,” Eric Trump said. “I think I’ve become one of the great spokespeople for crypto.”
Critics raise conflict of interest concerns about family crypto profits during Trump’s presidency. Eric Trump calls such criticism “insane.”
“My father has absolutely nothing to do with this venture,” he said. “He’s running a nation.”
President Trump promised to be the “crypto president” and supports easing industry regulations. Trump Media & Technology Group also agreed to a deal with Crypto.com last month involving digital token CRO.
American Bitcoin’s expansion comes as Bitcoin mining profitability remains strong with current market conditions and the company’s efficient cost structure.
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