American Bitcoin goes public
- Status
- Listed; value down sharply
- Type
- Equity · Sep 1, 2025
- Counterparty
- Hut 8 (joint-venture partner and majority owner) and public shareholders
- Amount
- About $1 billion in paper wealth for the Trump brothers at listing
- People
- Eric Trump · Donald Trump Jr.
WHO PAID, WHO GOT WHAT
Eric Trump and Donald Trump Jr. back the mining and treasury company, formed by combining most of Hut 8’s mining business with American Data Centers. The listing came months after the president signed an order creating a national bitcoin reserve.
WHAT THE RECORD SHOWS
The stock later fell about 90 percent from its highs. Month-precision date.
RESPONSE
The Trump Organization told AP it is “fully compliant with all applicable ethics and conflicts of interest laws” and that “the implication that politics has enriched the Trump family is unfounded.” The White House said the president has “no involvement” in family business deals. Fortune reported in September 2025 that Eric Trump has disputed concerns raised by ethicists and Democrats about the family’s crypto ventures and has said he does not talk with his father about his business ventures. Fortune’s February 2026 report includes no response.
Correction. An earlier version said the president’s announcement of a national bitcoin reserve sent the price of bitcoin to a record. It did not, and that claim has been removed. The listing came months after the president signed the order creating the reserve. Corrected September 18, 2026.
SOURCES
- PBS NewsHour (Associated Press): How the Trump family’s business deals could open the door for future presidents to profit from office ↗
- Fortune: The Trump family’s crypto portfolio is getting battered with the rest of the industry ↗
- Al Jazeera: Bitcoin plunges as Trump’s strategic reserve fails to impress markets ↗
- Reuters via Yahoo Finance: Hut 8, Eric Trump to launch bitcoin mining company ↗
- Fortune: Trump-backed crypto firm American Bitcoin notches $5 billion valuation in Nasdaq debut ↗
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