Eric Trump’s Stake in Bitcoin Miner Worth Staggering Amount

Eric Trump’s stake in a four-month-old Bitcoin mining venture could be worth as much as $367 million when the company goes public in the coming weeks. Trump holds a large stake in the closely held American Bitcoin Corp., which he co-founded in March. The company is merging with Gryphon Digital Mining Inc., which is listed on the Nasdaq, and the combined company will be called American Bitcoin. As part of the deal, Trump’s interest in American Bitcoin will be converted to 367 million new shares of Gryphon, which traded at about $1 per share on Thursday, according to a securities filing. A recent private sale of existing American Bitcoin stock suggested the new shares would be worth $0.25 each, which would put the value of Trump’s shares at “just” $92 million. Trump is the company’s chief strategy officer. The disclosures coincided with President Donald Trump’s vow to usher in a “golden age of crypto.”