Eric Trump Launches ‘American Bitcoin’ Public Company

Eric Trump has unveiled his latest business venture, a cryptocurrency mining and investment firm called American Bitcoin that will begin trading on the Nasdaq through a special purpose acquisition company (SPAC) merger. The company aims to establish a large-scale Bitcoin mining operation utilizing domestically produced renewable energy sources, positioning itself as a patriotic alternative to overseas mining operations, according to CNBC.

The announcement comes as cryptocurrency markets have reached new highs in recent months, with Bitcoin trading above $88,000 and renewed interest in cryptocurrency mining operations within the United States. Trump emphasized the venture’s focus on American energy independence and job creation alongside its financial objectives.

Domestic Mining Strategy

American Bitcoin plans to establish multiple mining facilities across states with favorable regulatory environments and access to renewable energy sources. The company has already secured locations in Texas, Wyoming, and Kentucky, with operations expected to commence in the fourth quarter of 2025.

“We’re bringing Bitcoin mining back to America in a big way,” Trump said during the company’s investor presentation. “Our operation will utilize American workers, American energy, and American technology to secure the Bitcoin network while creating wealth that stays in our communities.”

The company’s initial deployments will include approximately 55,000 mining rigs, with plans to expand to 200,000 units by the end of 2026. Industry analysts at CoinDesk note that this would make American Bitcoin one of the largest U.S.-based mining operations, though still smaller than industry leaders like Riot Platforms and Marathon Digital.

Renewable Energy Focus

A central pillar of American Bitcoin’s strategy involves partnerships with domestic renewable energy producers, addressing common criticisms about cryptocurrency mining’s environmental impact. The company has signed agreements with solar and wind energy providers in Texas and Wyoming to power its operations.

“We’re committed to building an environmentally responsible mining operation,” Trump explained. “By utilizing primarily renewable energy sources, we’re creating a sustainable model for cryptocurrency mining that aligns with America’s energy future.”

The company has also announced an initiative to develop cryptocurrency mining technology that can utilize excess energy from oil and gas operations that would otherwise be flared, potentially creating an additional revenue stream for domestic energy producers while reducing emissions.

SPAC Transaction Details

American Bitcoin will go public through a merger with Patriot Acquisition Corp, a SPAC that raised $250 million in its initial public offering last year. The transaction values American Bitcoin at approximately $1.7 billion and is expected to provide the company with approximately $395 million in gross proceeds to fund its expansion plans.

“This transaction provides the capital we need to execute our vision at scale,” said James Reynolds, who will serve as American Bitcoin’s CEO. Reynolds previously held executive positions at several energy companies and most recently served as Chief Operating Officer at a Texas-based solar energy developer.

The SPAC route to public markets has seen a resurgence in 2025 after declining in popularity following regulatory scrutiny in previous years. Financial analysts at Barron’s have noted that cryptocurrency-related businesses have been particularly active in utilizing SPACs, with five such transactions announced in the past six months.

Management Team and Governance

Eric Trump will serve as Executive Chairman of American Bitcoin, overseeing strategic initiatives and government relations while Reynolds manages day-to-day operations. The management team also includes several cryptocurrency industry veterans and former energy sector executives.

“We’ve assembled a team that understands both the technical aspects of cryptocurrency mining and the regulatory landscape of the energy sector,” Trump said. “This combined expertise gives us a unique advantage in building a compliant, profitable operation.”

The company’s board of directors will include representatives from both the cryptocurrency and traditional finance sectors, including former Commodity Futures Trading Commission Commissioner J. Christopher Giancarlo, who has been a proponent of balanced cryptocurrency regulation.

Regulatory Considerations

American Bitcoin’s launch comes amid evolving regulatory frameworks for cryptocurrency operations in the United States. The company emphasized its commitment to regulatory compliance and engagement with policymakers at both state and federal levels.

“We believe that responsible regulation is essential for the long-term success of the cryptocurrency industry in America,” Trump stated. “Our company is designed from the ground up to operate within existing regulatory frameworks while advocating for policies that support innovation.”

Industry observers have noted that the company’s emphasis on domestic operations may position it favorably amid increasing scrutiny of overseas cryptocurrency mining, particularly operations in countries with less stringent environmental standards or potential geopolitical concerns.

Market Reaction

Shares of Patriot Acquisition Corp surged 27% following the announcement, reflecting investor enthusiasm for the venture. Cryptocurrency markets also responded positively, with Bitcoin briefly touching $89,500 before settling around $88,200.

“The market reaction suggests investors see value in a large-scale, U.S.-based mining operation with strong capitalization and a clear renewable energy focus,” explained Michelle Bond, CEO of the Association for Digital Asset Markets. “This kind of institutional entrance into the mining space represents another step in the maturation of the cryptocurrency industry.”

The company expects the SPAC merger to close in the third quarter of 2025, subject to shareholder approval and standard regulatory reviews. Following the transaction, the combined entity will trade on the Nasdaq under the ticker symbol “AMBT.”