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.

The son of President Donald Trump also said he isn’t worried about the increasingly crowded field of Bitcoin stockpilers.

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.