American Bitcoin, a new crypto mining operation co-founded by Eric Trump and Donald Trump Jr, along with Hut 8, a data-center operator. It still intends to list shares on the Nasdaq by the third quarter of 2025. The transition will be accomplished using a business combination merger on a stock-for-stock transaction basis with Gryphon Digital Mining. This strategic move is intended to provide the Company with direct access to dedicated growth capital that is not tied to Hut 8’s balance sheet.
The Trump family's venture into the crypto world has been under scrutiny, especially given Donald Trump's public endorsement of cryptocurrency and his desire for the U.S. to become the "crypto capital of the planet." Eric Trump, chief strategy officer of American Bitcoin, would agree.
American Bitcoin was created to raise the standard in American bitcoin mining. Eric Trump has gone on the record claiming that he wants the U.S. to become the world leader in bitcoin mining.
"We won the space race. We better win the crypto race." - Eric Trump
As it is, the U.S. is already well on its way to taking the crown for bitcoin mining. Since then, environmental concerns have gained traction as the primary argument against bitcoin mining. In particular, folks are concerned about the huge quantities of water needed to keep the machines cool.
American Bitcoin’s premature announcement has arguably already caused enough market disruption. The cryptocurrency $TRUMP, based on these developments, has skyrocketed by an astounding 50%. The Trump family’s active interest in crypto has ensured their maneuverings have remained in the spotlight.
Rohan Prasad
Crypto Feature Editor
Rohan Prasad delivers engaging, community-driven stories on crypto events, blending firsthand experience with expert commentary. Known for connecting with people across the ecosystem, he makes complex DeFi happenings accessible and fun. Outside of work, Rohan enjoys indie music and trekking in the Western Ghats.
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