New Delhi, Aug. 28 -- American Bitcoin, a US-based bitcoin miner, is set to go public on Nasdaq through an all-stock merger with Gryphon Digital Mining. The company is backed by President Donald Trump's two sons,

The unlisted crypto firm's merger will be finalised shortly, with the goal to begin trading in early September, Asher Genoot, CEO of Hut 8, which holds 80% of American Bitcoin, told Reuters.

According to Genoot, anchor shareholders in the listing have already been finalised for the soon-to-be merged companies.

Hut 8, American Bitcoin's largest investor, along with the bitcoin company's co-founder Eric Trump and his brother Donald Trump Jr, will own a combined 98% of the newly formed entity.

The newly formed entity will retain...