American Bitcoin had a significant fluctuation on its first day of trading on the US stock market, and the Trump family plans to sell stocks to raise $2.1 billion.
The Bitcoin mining company American Bitcoin Corp. (ABTC), supported by the Trump family, experienced extreme fluctuations on its first day of trading on Nasdaq, soaring by 91% at one point before retreating to near the opening price. As the market digests the first-day fluctuations, the company has submitted an application to the SEC, planning to raise $2.1 billion through stock sales to expand its footprint in Bitcoin mining and accumulation in the United States.
First Day Trading Big Fluctuation
ABTC was listed on Nasdaq on September 3, with an opening price of $6.90, soaring to $13.20 within just one hour, a rise of 91%, and triggering five trading halts due to excessive fluctuation.
Closing performance: The stock price fell back to near the Opening Price, ultimately rebounding slightly.
After-hours trend: reported at 8.06 USD, up about 16% for the day.
This dramatic fluctuation reflects the market's high speculative interest in newly listed cryptocurrency mining companies and indicates investors' attention to the Trump family's involvement in the cryptocurrency space.
2.1 billion US dollars financing plan
ABTC submitted documents to the SEC after its first day of trading, planning to raise 2.1 billion dollars through the sale of stocks.
Use of funds: Expand the accumulation scale of Bitcoin, promote mergers and acquisitions, enhance operational efficiency
Equity structure:
The former American Bitcoin shareholders hold about 98% of the shares in the merged entity.
Trump and other founding partners hold the remaining 20% minority stake (specific percentage not disclosed)
Trump family merges with Gryphon Digital Mining
ABTC was born from the stock swap merger of American Bitcoin and Gryphon Digital Mining, and uses the stock code ABTC.
Holding Background: American Bitcoin is a subsidiary of the energy company Hut 8 (holding 80%)
Operating Model: Using a light asset strategy, relying on partner infrastructure for Bitcoin accumulation.
Mining assets: Gryphon has a self-mining hash power of 89.9 million terahashes per second and focuses on renewable energy and low-cost energy, including Canadian natural gas assets.
Bitcoin Mining Integration Trend
This merger and financing plan reflects the wave of consolidation in the U.S. Bitcoin mining after the halving event:
Industry Strategy: Expand scale and reduce unit costs through mergers and acquisitions and capital injection.
Market Positioning: ABTC aims to be the leader in Bitcoin accumulation and Mining for U.S. institutions.
Conclusion
The ABTC supported by the Trump family experienced severe fluctuations on its first day on Nasdaq, but immediately launched a $2.1 billion financing plan, demonstrating its ambition in Bitcoin mining mergers and expansion. As competition in mining intensifies after the halving and institutional funds accelerate their entry, ABTC's actions may become an important barometer for the consolidation of cryptocurrency mining in the United States. Investors need to continuously monitor its financing progress and subsequent merger dynamics.
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American Bitcoin had a significant fluctuation on its first day of trading on the US stock market, and the Trump family plans to sell stocks to raise $2.1 billion.
The Bitcoin mining company American Bitcoin Corp. (ABTC), supported by the Trump family, experienced extreme fluctuations on its first day of trading on Nasdaq, soaring by 91% at one point before retreating to near the opening price. As the market digests the first-day fluctuations, the company has submitted an application to the SEC, planning to raise $2.1 billion through stock sales to expand its footprint in Bitcoin mining and accumulation in the United States.
First Day Trading Big Fluctuation
ABTC was listed on Nasdaq on September 3, with an opening price of $6.90, soaring to $13.20 within just one hour, a rise of 91%, and triggering five trading halts due to excessive fluctuation.
Closing performance: The stock price fell back to near the Opening Price, ultimately rebounding slightly.
After-hours trend: reported at 8.06 USD, up about 16% for the day.
This dramatic fluctuation reflects the market's high speculative interest in newly listed cryptocurrency mining companies and indicates investors' attention to the Trump family's involvement in the cryptocurrency space.
2.1 billion US dollars financing plan
ABTC submitted documents to the SEC after its first day of trading, planning to raise 2.1 billion dollars through the sale of stocks.
Use of funds: Expand the accumulation scale of Bitcoin, promote mergers and acquisitions, enhance operational efficiency
Equity structure:
The former American Bitcoin shareholders hold about 98% of the shares in the merged entity.
Trump and other founding partners hold the remaining 20% minority stake (specific percentage not disclosed)
Trump family merges with Gryphon Digital Mining
ABTC was born from the stock swap merger of American Bitcoin and Gryphon Digital Mining, and uses the stock code ABTC.
Holding Background: American Bitcoin is a subsidiary of the energy company Hut 8 (holding 80%)
Operating Model: Using a light asset strategy, relying on partner infrastructure for Bitcoin accumulation.
Mining assets: Gryphon has a self-mining hash power of 89.9 million terahashes per second and focuses on renewable energy and low-cost energy, including Canadian natural gas assets.
Bitcoin Mining Integration Trend
This merger and financing plan reflects the wave of consolidation in the U.S. Bitcoin mining after the halving event:
Halving Impact: Block rewards decrease, mining companies face increased operational pressure
Industry Strategy: Expand scale and reduce unit costs through mergers and acquisitions and capital injection.
Market Positioning: ABTC aims to be the leader in Bitcoin accumulation and Mining for U.S. institutions.
Conclusion
The ABTC supported by the Trump family experienced severe fluctuations on its first day on Nasdaq, but immediately launched a $2.1 billion financing plan, demonstrating its ambition in Bitcoin mining mergers and expansion. As competition in mining intensifies after the halving and institutional funds accelerate their entry, ABTC's actions may become an important barometer for the consolidation of cryptocurrency mining in the United States. Investors need to continuously monitor its financing progress and subsequent merger dynamics.