Cryptocurrency stocks have long been a magnet for speculative investors, with wild swings that can generate both fortunes and heavy losses in short order. Bitcoin miners, in particular, often ride the momentum of crypto rallies, only to face sharp reversals when energy costs rise or digital assets stumble. Still, the potential upside keeps drawing attention to the sector, especially when political ties or high-profile backers add fuel to the story.
One of the latest entrants is American Bitcoin (ABTC), which made its market debut this week after merging with Gryphon Digital Mining. Shares more than doubled in early trading on opening day as the company announced it had boosted its installed hashrate to 24 EH/s, powered by thousands of new ASIC servers.
For investors intrigued by the mix of politics, crypto, and scale expansion, ABTC is one to watch closely.
American Bitcoin, a bitcoin-mining company backed by President Donald Trump’s sons, made its Nasdaq debut last week and quickly drew attention with sharp trading swings.
The stock opened near $8 and surged intraday to $14.65, more than doubling at its peak. Shares later reversed, closing the session at $7.33, below the initial trading price. At its high, the rally temporarily valued the Trump family’s roughly 20% stake at $2.6 billion before ending the day at nearly $1.5 billion.
The volatile debut came against a softer backdrop for cryptocurrencies. Bitcoin (BTCUSD) slipped 2% during the session, while other crypto-related stocks also moved lower, raising questions about whether ABTC’s first-day moves reflected enthusiasm for the Trump-linked venture or short-term speculative trading.
ABTC is 80% owned by crypto miner Hut 8 (HUT) and 20% by Donald Trump Jr. and Eric Trump. The new company was created via a merger with Gryphon Digital Mining, and its stated strategy is to both mine bitcoin and accumulate bitcoin as a treasury asset. The firm even touts plans to use its public-market capital to keep buying BTC in the open market.
At its debut, it held about 2,443 bitcoins (worth roughly $269 million at current prices) on its balance sheet. ABTC doubled its mining power to 24 EH/s by adding new rigs. The machines run efficiently, keeping bitcoin mining costs about half of the current bitcoin prices.
