Trump-backed Bitcoin Company Surges on Nasdaq Debut, Valued at Over $8 Billion

American Bitcoin, a cryptocurrency mining company with ties to the Trump family, enjoyed a successful first day on the Nasdaq. Its stock price surged over 16% at one point, reaching a high of $8.45, and closed up by nearly 16.52%. The company’s debut follows its merger with Gryphon Digital Mining (GRYP). Following an initial jump that saw its value rise from Gryphon’s Tuesday closing price of $6.90 to over $13.20 before a sharp decline, American Bitcoin’s shares eventually ended the day up 16.52% at just over $8.