Key takeaway: American Bitcoin Corp. (ABTC), backed by Donald Trump's sons, rose 9% after Dominari Holdings revealed a $170M stake. The miner only listed on Nasdaq earlier this month and has already faced wild price swings.
What happened
Shares of American Bitcoin Corp. (Nasdaq: ABTC) climbed nearly 9% Tuesday, closing at $9.03 after touching $9.54 intraday. The move followed disclosures that Dominari Holdings (Nasdaq: DOMH) owns more than 23.2 million shares of ABTC, valued at nearly $170 million.
ABTC, a newly listed U.S. Bitcoin miner, is promoted by Donald Trump Jr. and Eric Trump. The company began trading on the Nasdaq on September 3, 2025, focusing on large-scale Bitcoin mining.
Related: What is Bitcoin mining? Explained
Market reaction
ABTC shares have been volatile since their debut. On the first trading day, the stock spiked to $14.52 before closing down 45% at $8.01. Even after the latest rally, its market cap remains just above $800 million— much smaller than established U.S. miners like Marathon Digital (MARA) or Riot Platforms (RIOT).
Dominari CEO Anthony Hayescalled ABTC's Nasdaq listing "a significant milestone" and said the firm would continue to support its growth.
Who is Dominari?
Dominari Holdings operates across wealth management, investment banking, trading, and asset management. The firm is also exploring AI infrastructure and data centers, signaling a diversification beyond finance.
Why it matters
The Trump connection ensures ABTC will draw attention, but the company's volatile debut highlights the risks of political branding and speculative crypto stocks. Investors must weigh Bitcoin's price swings, mining economics, and U.S. energy policy before viewing ABTC as more than a high-risk trade.
FAQ
How big is Dominari's stake in American Bitcoin?
Dominari disclosed ownership of 23.2 million ABTC shares, valued near $170 million in early September.
When did American Bitcoin go public?
ABTC listed on Nasdaq on Sept. 3, 2025, marking one of the most high-profile crypto IPOs this year.
Why is it linked to Donald Trump?
The company is backed by Donald Trump Jr. and Eric Trump, who frame U.S.-based mining as part of a pro-America crypto push.
What risks should investors note?
ABTC is highly volatile. Mining profitability depends on Bitcoin prices, energy costs, and regulatory shifts, making it riskier than established miners.
This story was originally reported by TheStreet on Sep 9, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
