American Bitcoin merger left prior holders with 98% of the public company
Reporting and findings
- documented
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
Summary and current status
The merger converted the private mining venture into a Nasdaq-traded company while Hut 8 retained majority ownership.
American Bitcoin publicly listed; Hut 8 remained majority owner
People and organizations
- 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.
Figures
Combined company allocated to pre-merger holdersabout 98% Calculation details
- 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.