A bitcoin mining company partially owned by President Donald Trump's two eldest sons will go public on Nasdaq in an all-stock merger with Gryphon Digital Mining, American Bitcoin announced Monday.

American Bitcoin, Hut 8’s majority-owned unit backed by the Trump family, will go public via a merger with Gryphon Digital Mining (GRYP). Shares of Hut 8 Corp. (HUT) jumped 12% in pre-market trading, while Gryphon Digital Mining (GRYP) soared more than 200%, following the news.

American Bitcoin, a new bitcoin miner backed by U.S. President Donald Trump's two eldest sons, said on Monday it will list on the Nasdaq via an all-stock merger with Gryphon Digital Mining .