American Bitcoin's stock price rose nearly 17% on its first day of trading, and Eric Trump's stake in the company is now worth more than $500 million.

On September 4th, The Block reported that American Bitcoin (ABTC), a Bitcoin mining company associated with the Trump family, officially listed on the Nasdaq Stock Exchange. The stock price surged nearly 17% to close at $8.04 per share on its first day of trading, reaching a high of approximately $14.

The stock's trading volume exceeded 29 million shares on the first day, demonstrating high market participation and investor interest.

In comparison, Circle and Bullish, two other cryptocurrency-related companies that recently listed on the public markets at higher IPO prices, saw first-day trading volumes of 46 million and 58 million shares, respectively. Although ABTC's first-day trading volume was slightly lower than those of these two peers, its stock price surge and market interest still demonstrate a degree of investor confidence in the Trump brand and its related cryptocurrency businesses.

Eric Trump publicly stated on Wednesday, "We essentially operate a superior mining business. Our current Bitcoin mining costs are only about half of the market price. We hold hundreds of millions of dollars in fixed assets and have a solid data center infrastructure to support our operations.

While many institutions must purchase Bitcoin at market prices, we are able to mine Bitcoin at a cost significantly below market value, which gives us a significant competitive advantage." According to Bloomberg, with the successful listing of American Bitcoin, Eric Trump's stake in the company is valued at over $500 million.

Market observers believe that the listing of ABTC not only strengthens the Trump family's presence in the cryptocurrency space but also provides a case for the further integration of traditional financial markets and crypto assets.

As Bitcoin gradually gains institutional acceptance, companies with low-cost mining capabilities are expected to attract more attention from long-term investors.