Eric Trump’s stake in a young Bitcoin mining company could be worth a fortune when the business goes public in the next few weeks. The second son of U.S. President Donald Trump co-founded American Bitcoin Corp. in March, a venture that has quickly grown in value and profile.
According to a Bloomberg report, his shares will soon be swapped for about 367 million new shares of Gryphon Digital Mining Inc., which trades on the Nasdaq. Gryphon closed near $1 per share on Thursday, hinting at a possible paper value of $367 million for Eric Trump’s stake.
The Merger Plan and Presidential Support for Crypto
According to a recent securities filing, it says the combined company will keep the name American Bitcoin once the merger is complete. This news lands during a week when President Trump, who was once very doubtful of cryptocurrency, is now encouraging digital asset adoption.
He recently called for the creation of a national Bitcoin stockpile, promoting what he described as a “golden age of crypto.” White House press secretary Karoline Leavitt stated, “Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest.”
A separate valuation measure offers a more modest estimate. A private sale of American Bitcoin shares earlier this year priced them at 25 cents each. That lower figure would value Eric Trump’s stake at roughly $92 million. Some of the firms’ investors include both Eric Trump and Donald Trump Jr., though the filing does not reveal what they paid.
From Hut 8 to the Crypto Stage
American Bitcoin was created by merging mining equipment from Miami-based Hut 8 Corp. with a new venture backed by the Trump brothers and others. Hut 8 has not commented on the deal.
In announcing the partnership, Hut 8 praised Eric Trump’s “commercial acumen, capital markets expertise and commitment to the advancement of decentralized financial systems.”
Eric Trump now serves as the company’s chief strategy officer under a three-year advisory deal that comes with no salary. Meanwhile, he continues his role at the Trump Organization and remains involved in other family businesses.
In May, he joined company executives on stage at a Bitcoin conference. “America is going to win the crypto revolution,” he told the crowd, adding, “We as a family could not be more excited about this.”
If the public listing succeeds, American Bitcoin will place the Trump family among the most visible names in U.S. cryptocurrency mining.