On May 13, 2025, American Bitcoin – a Bitcoin mining company linked to the Trump family – announced plans to list on Nasdaq through a merger with Gryphon Digital Mining, with Eric Trump serving as Chief Strategy Officer. Is this a turning point for the Bitcoin mining industry in the U.S.? Let's analyze in detail.


American Bitcoin Goes Public on Nasdaq: Ambition to Lead

#AmericanBitcoin , the majority-owned subsidiary by Hut 8, will fully merge through stock with Gryphon Digital Mining, expected to be completed in Q3 2025. After the merger, current shareholders of American Bitcoin – including Eric Trump, Donald Trump Jr., and Hut 8 – will own 98% of the new company, operating under the American Bitcoin brand and trading under the ticker “ABTC” on Nasdaq. Hut 8 remains the exclusive partner for infrastructure and operations, helping the company build the “backbone of Bitcoin infrastructure in America.”


CEO of Hut 8 Asher Genoot emphasized: “Taking American Bitcoin public opens up opportunities for independent growth capital access, while maintaining long-term potential from Bitcoin.” The company has three main goals: efficient Bitcoin mining, leading the Bitcoin ecosystem, and building strategic Bitcoin reserves. The American Bitcoin website states: “Bitcoin lacks clear leadership in the U.S., and ABTC will leverage operational strength along with a trusted brand to simplify and provide reliable access to Bitcoin for Americans.”


The Role of the Trump Family and the Crypto Ecosystem

#EricTrump , son of President Donald Trump, is a co-founder and Chief Strategy Officer of American Bitcoin, along with a leadership team including Chairman Mike Ho, CEO Matt Prusak, and board member Asher Genoot. Eric posted on X: “Very proud of this project and the talented team involved!” This is the latest move by the Trump family in the crypto industry, following World Liberty Financial (WLFI) with the USD1 stablecoin, Trump's and Melania's memecoins on Solana, and plans for a token for the Truth ecosystem (Truth Social and Truth+). Trump is committed to making the U.S. a leader in the crypto industry, despite facing criticism over conflicts of interest.


Impact on the Market

Event signaling positive outlook:



  • Stocks surged: Shares of Gryphon Digital Mining (GRYP) rose 173% to $1.42, Hut 8 increased by 11.74%, thanks to merger news and improved tariffs.


  • Increasing confidence: Crypto fund inflows reached $3.4 billion last week, Bitcoin ETFs attracted $1.8 billion, and are projected to accumulate $330 billion into Bitcoin by 2029.


  • Boosting altcoins: Coins like XRP ($2.31) and Solana ($146) benefited from the overall trend, despite Bitcoin slightly dropping 2.1% to $102,000 in the past 24 hours.



Future Prospects

If the merger is successful in Q3 2025, American Bitcoin could reshape the Bitcoin mining industry in the U.S. in the next 1-2 years, especially with Trump supporting crypto. However, a clear legal framework is needed to reduce the risk of conflicts of interest and ensure sustainable growth.


Conclusion: Will American Bitcoin Change the Game?

American Bitcoin, backed by the Trump family and Hut 8, goes public on Nasdaq, aiming to lead the Bitcoin mining industry in the U.S. Stocks of Gryphon and Hut 8 surged, along with abundant institutional capital, promising a bright future for the crypto ecosystem. Investors should closely monitor to seize opportunities.


Risk warning: Crypto investments carry high risks due to price volatility and legal uncertainties. Please consider carefully before participating. #anhbacong