Trump family's bitcoin mining venture to go public — as Trump crypto interests grow

A bitcoin mining firm backed by President Trump's son Eric will go public this year, the company announced Monday, deepening the Trump family's interest in cryptocurrency.

American Bitcoin — which lists Eric Trump as its co-founder and has its roots in a company backed by Donald Trump Jr. — is merging with the publicly-traded Gryphon Digital Mining. The all-stock transaction will allow the firm backed by the Trump brothers to be listed on the Nasdaq exchange. The merger is expected to close as early as the third quarter of this year.

The company's goals, according to an overview posted Monday, are to mine new bitcoin "below market cost" and to build up a reserve of the cryptocurrency.