American Bitcoin, a crypto mining firm backed by President Donald Trump’s sons Eric Trump and Donald Trump Jr., is preparing to go public. The firm will debut on the Nasdaq under the ticker ABTC following an all-stock merger with Gryphon Digital Mining. The transaction is expected to close as soon as the third quarter of 2025.
Shares of Gryphon Digital Mining surged over 300% on Monday following the announcement, signaling investor enthusiasm over the Trump family’s deepening involvement in the cryptocurrency world.
Trump Sons to Control 98% of New Bitcoin Entity
Once the merger is finalized, existing stockholders of American Bitcoin—including Eric and Don Jr.—will hold approximately 98% of the newly formed company. That kind of control underscores how serious the Trump family is about cryptocurrency and its future role in the U.S. economy.
Eric Trump, who also serves as American Bitcoin’s Chief Strategy Officer, made headlines for his strong stance on ensuring American supremacy in crypto innovation. “We won the space race. We better win the crypto race,” he told CNBC in a recent interview.
Strategic Separation from Hut 8 to Focus on Bitcoin Mining
American Bitcoin’s assets are being carved out of the broader infrastructure of Hut 8, a well-established energy and artificial intelligence infrastructure platform. The decision to isolate the mining division is a strategic one—intended to unlock capital and drive growth by narrowing the company’s focus strictly on crypto mining. Hut 8’s shares rose 10% Monday in response to the announcement.
This maneuver allows American Bitcoin to operate independently from Hut 8’s other ventures, giving the Trump-backed entity more control over its strategic direction, operations, and future fundraising efforts.
Part of a Larger Trump Crypto Empire
This public offering is the latest in a string of bold crypto moves by the Trump family. The Trump-branded meme coin $TRUMP recently garnered attention for offering a private dinner with President Trump to top holders of the token. While dismissed by critics as a gimmick, it successfully drew attention and capital, further blurring the line between political branding and blockchain enthusiasm.
Despite Eric Trump’s emphasis on the importance of U.S. dominance in Bitcoin mining, he has distanced the company from direct involvement with his father’s presidential administration. Still, the timing and scale of these crypto ventures suggest strong alignment between Trump family business interests and campaign policy.
Donald Trump Backs Bitcoin Miners on Campaign Trail
President Donald Trump has made support for U.S.-based Bitcoin mining a recurring theme on the campaign trail. At a closed-door event held at Mar-a-Lago earlier this year, Trump reportedly told executives from top crypto mining companies that all future Bitcoin “should be mined on American soil.”
This messaging aligns with recent executive orders from his administration that roll back environmental restrictions on fossil fuel usage—a boon for miners who depend on reliable and often energy-intensive operations. While critics argue that these policies could damage the climate, Trump supporters view them as necessary for keeping Bitcoin mining competitive within U.S. borders.
The executive orders also create incentives for energy producers—particularly in oil-rich states like Texas and North Dakota—to convert excess energy into hash power, a critical resource for mining. This further connects energy independence with digital asset dominance in the eyes of Trump’s voter base and business allies.
Bitcoin Price Holds Steady Amid News
Despite the high-profile nature of the American Bitcoin news, the market response has been relatively muted. As of the latest data, Bitcoin continues to trade around $104,000, largely flat over the past 24 hours. That said, analysts expect the merger and public debut of American Bitcoin to have longer-term implications.
“This isn’t just another SPAC deal or meme coin,” said Dan Held, a longtime Bitcoin investor and advisor. “This is a well-structured play with energy infrastructure backing it and a political engine that could accelerate regulatory clarity for miners.”
U.S. Crypto Infrastructure: A National Security Issue?
Eric Trump has been vocal about the geopolitical implications of Bitcoin mining. “Every single sophisticated country is using their excess power to mine bitcoin,” he told CNBC, framing it not just as a business opportunity, but a national security concern.
His comments echo a growing sentiment among conservative leaders and business elites that Bitcoin’s decentralized structure must be protected—and leveraged—by ensuring the bulk of new coins are mined under American jurisdiction.
According to a 2024 report from Cambridge Centre for Alternative Finance, the U.S. already accounts for over 38% of global Bitcoin hash rate. With American Bitcoin now going public and likely to attract fresh capital, that number could rise significantly over the next year.
Critics Sound Alarms Over Environmental Costs
While the Trump family’s efforts have energized U.S.-based miners, environmental advocates remain deeply concerned. Organizations like the Sierra Club have warned that increased fossil fuel-based mining could offset recent emissions gains in energy policy.
“We’re basically burning oil and gas to print digital money,” said Michael Brune, a senior adviser to the Sierra Club. “It’s one of the most inefficient uses of energy imaginable.”
Proponents counter that Bitcoin mining incentivizes innovation in grid balancing and could promote better utilization of excess energy. Some oilfield miners, for example, are using flared gas that would otherwise be wasted.
A Political and Economic Gamble
The Trump family’s foray into cryptocurrency is not without political risk. Critics argue that blending financial ventures with a political platform opens the door to corruption and influence peddling. However, supporters argue that the move is a logical evolution for a political brand that has long positioned itself as pro-business, anti-regulation, and unafraid of embracing controversial industries.
“Trump is making Bitcoin American again,” said Scott Melker, host of the Wolf of All Streets podcast. “Like it or not, this move sends a powerful signal that digital assets aren’t going away—they’re becoming part of the American industrial strategy.”
Investor Takeaways: What This Means for the Market
For investors, the American Bitcoin-Gryphon merger signals a significant shift. Here’s what to watch:
- More institutional attention: The Trump name, for better or worse, commands media and investor interest. This deal puts Bitcoin mining back in the spotlight for institutional players.
- Policy alignment: If Trump continues to advocate pro-mining policies while in office, regulatory hurdles could ease—particularly regarding energy sourcing and environmental reviews.
- Capital inflow: Going public opens the door for retail and institutional investment. Expect increased liquidity and potential M&A activity in the mining sector.
Bitcoin bulls now have a new narrative to ride—U.S. political support tied directly to domestic production of the world’s most valuable digital asset.
Bottom Line
The Trump family’s crypto ambitions just took a massive leap forward. With American Bitcoin preparing to trade under the ABTC ticker and positioned to become a major force in U.S.-based mining, this isn’t just a business deal—it’s a political statement.
Whether you’re a crypto skeptic or a blockchain believer, one thing is clear: the Trumps are betting big on Bitcoin, and they want the rest of America to mine it with them.
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