On September 4th, the stock price of American Bitcoin (ticker ABTC), a mining company backed by the Trump family, rose nearly 17% to $8.04 per share on its first day of trading, reaching a high of $14 during the session. The stock's first-day trading volume exceeded 29.00 million shares.

Eric Trump stated, "We have a core, high-quality mining business, with current mining costs only 50% of the market price of Bitcoin. The company holds hundreds of millions of dollars in hardware assets and data centers... While others can only purchase at face value, we can acquire Bitcoin at a significant discount."

According to Bloomberg's estimates, the successful listing of American Bitcoin means that the shares held by Eric Trump, the second son of Trump, are worth more than $500.00 million.

American Bitcoin, established in March of this year and co-founded by Eric Trump with support from Donald Trump Jr. (eldest son), is a crypto mining and holding company. In June, American Bitcoin raised $220.00 million through a private placement of 11.00 million new shares. Hut 8 holds 80% of its shares, with the remaining 20% controlled by American Data Centers, which is backed by the Trump brothers. Eric Trump serves as the company's Chief Strategy Officer.