American Bitcoin merger left prior holders with 98% of the public company
The merger converted the private mining venture into a Nasdaq-traded company while Hut 8 retained majority ownership.
Entities and roles
- Donald J. Trumpfather and sitting president during his sons' private investment activity
- Hut 8 Corp.majority owner and commercial counterparty
- American Bitcoin Corp.public bitcoin-mining company
- Donald Trump Jr.son and American Bitcoin investor
- Eric Trumpson, American Bitcoin co-founder, and beneficial owner
Relationships in this file
- Hut 8 Corp.retained majority ownership after listingAmerican Bitcoin Corp.
- Donald J. Trumpson and co-founder of Trump-linked American BitcoinEric Trump
- Donald J. Trumpson and investor in Trump-linked American BitcoinDonald Trump Jr.
Claims and evidence
- factdocumented
Hut 8's annual report says the September 3, 2025 merger listed American Bitcoin publicly, gave pre-merger American Bitcoin holders about 98% of the combined company, and left Hut 8 as majority owner under long-term commercial agreements.
- U.S. Securities and Exchange Commission: Hut 8 Corp. 2025 annual reportAmerican Bitcoin private-placement, transaction-cost, public-merger, ownership-allocation, and Hut 8 agreement sections
- Axios: Trump sons launch bitcoin mining ventureLaunch report identifying Eric Trump and Donald Trump Jr. as principals of American Bitcoin
Measurements
Combined company allocated to pre-merger holdersabout 98% - Basis
- Observed
- Population
- Post-merger American Bitcoin ownership allocated to pre-merger American Bitcoin holders
- Period
- 2025-09-03 to 2025-09-03
- As of
- 2025-09-03
- Method
- Use the approximate allocation in Hut 8's annual report.
- Uncertainty
- Ownership allocation is not a market valuation or realized return.