Bitcoin mining company Hut 8 has announced that its holding subsidiary, American Bitcoin, will go public through a merger transaction with Gryphon Digital Mining, expected to be completed in the third quarter of 2025.

Notably, the co-founder and chief strategy officer of American Bitcoin is Eric Trump, the second son of Donald Trump.

Fueled by the merger news, Gryphon Digital Mining's stock price soared 173.08% at Monday's close, with a massive 330% gain over the past week.

It turns out that the Trump family has already ventured into the crypto mining industry, and its empire is continuing to expand.