Bitcoin Mining in the US: American Bitcoin and Hut 8 Strategy Led by the Trump Family

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The United States is gaining a foothold in the global Bitcoin mining industry, and a new company called American Bitcoin, backed by Hut 8 and the Trump family, is playing a key role. American Bitcoin recently announced it would go public on the Nasdaq through a merger with Gryphon Digital Mining , sending Gryphon shares up 285% to $2.00, Investors.com reports . TulparTech looks at how the deal impacts the cryptocurrency market and the future of mining.

What is American Bitcoin ?

American Bitcoin was founded in March 2025 as a subsidiary of Hut 8 , which holds an 80% stake, while Eric and Donald Trump Jr. control 20%, according to Reuters . Eric Trump, co-founder and chief strategist, called the company “the most invested Bitcoin accumulation platform.”

Merger with Gryphon Digital Mining

will allow American Bitcoin to trade on the Nasdaq under the ticker ABTC, while retaining 98% of the shares for current shareholders, Bloomberg notes .

The Role of Hut 8 in Mining

Hut 8 , one of the largest Bitcoin miners in North America, has provided American Bitcoin with its ASIC miners and infrastructure, including facilities in Canada. Despite posting a $134.3 million loss in Q1 2025, the company increased its hashrate by 79% thanks to hardware upgrades, according to Yahoo Finance .

Hut 8 CEO Asher Genuth noted that American Bitcoin's listing will provide access to capital without putting a strain on Hut 8's balance sheet.

For readers interested in the technical side of mining, we recommend our article on blockchain technologies on TulparTech.

Political and environmental dynamics

President Donald Trump has embraced mining, promising that “all Bitcoin will be minted in the U.S.,” according to CBS News . His policy of relaxing environmental regulations has helped miners, but has drawn criticism for the industry’s high energy consumption. Mining farms like Hut 8 consume hundreds of megawatts of electricity, creating environmental and noise concerns. American Bitcoin aims to implement energy-efficient technologies to address these issues.

Learn more about the environmental impact of cryptocurrencies in our cryptocurrency news section .

Impact on the Bitcoin Market

American Bitcoin's listing on the Nasdaq coincides with a surge in interest in cryptocurrencies, which could support Bitcoin's price. Gryphon shares rose 460% to $2.93, while Hut 8 shares rose 17% to $16.31 on the day of the announcement. However, the market remains volatile, and investors should be mindful of the risks, especially after losses from Trump-linked meme coins, as Bloomberg notes .

Industry Prospects

American Bitcoin plans to become the largest Bitcoin miner, targeting a hashrate of over 50 EH/s. This is in line with the U.S. strategy to become the leading miner after China banned the activity in 2021. For investors, American Bitcoin offers access to the crypto market through public shares, which is attractive to those who avoid direct investment in Bitcoin.

TulparTech will continue to cover the development of the crypto industry. Follow our materials on digital currencies and blockchain.