Key Takeaways :
- American Bitcoin is a new cryptocurrency mining venture backed by Donald Trump Jr. and Hut 8.
- The project aligns with Trump's pro-crypto policies and national blockchain strategy.
- The initiative signals growing political and financial interest in mainstream cryptocurrency adoption.
American Bitcoin is a cryptocurrency mining enterprise launched in March 2025 through a merger between Hut 8 and American Data Centers, with backing from Eric and Donald Trump Jr. The company is set to go public via an all-stock merger with Gryphon Digital Mining, aiming to establish a premier platform for Bitcoin accumulation and capitalize on growing investor interest in crypto-related equities.
This venture aligns with President Donald Trump's pro-crypto agenda, which includes a softer regulatory stance and plans to position the United States as the global crypto capital. The announcement caused Gryphon’s shares to soar by 173% by the end of the day.
In a separate move, BTC Inc, publisher of Bitcoin Magazine, merged its investment vehicle Nakamoto Holdings with KindlyMD, raising $710 million to purchase Bitcoin for its treasury. Coinciding with this, cryptocurrency exchange Coinbase is set to join the S&P 500, boosting its stock by 7% in after-hours trading. The broader crypto market has surged, with Bitcoin spiking over 35% to $104,280 amid easing U.S.-China trade tensions.
The integration of digital assets into traditional financial markets reflects a broader trend of securing crypto to attract mainstream investors.
President Trump's administration has taken significant steps to support the growth of the U.S. crypto industry. On January 23, 2025, he signed an executive order intended to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.
Furthermore, on March 6, 2025, President Trump signed an executive order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, positioning the United States as a leader among nations in government digital asset strategy.
These initiatives have sparked debates among policymakers. On May 8, 2025, Senate Democrats blocked a bill intended to establish a federal regulatory framework for stablecoins, halting one of President Trump's major legislative priorities. Despite prior bipartisan support, the bill failed a procedural vote 49-48, as Democrats expressed concerns about insufficient protections in the legislation and Trump's potential to profit from crypto ventures.
Critics argue that the intertwining of political influence and cryptocurrency ventures raises ethical concerns. For instance, GD Culture Group, a small Nasdaq-listed tech firm with operations in China and a market value of approximately $26 million, announced plans to raise up to $300 million to invest in cryptocurrencies, including $TRUMP, a meme coin associated with President Donald Trump. This move has raised questions about potential foreign influence and ethical transparency.
In current circumstances and decisive actions, American Bitcoin represents a significant development in the intersection of cryptocurrency and politics. As the venture progresses, it will be essential to monitor its impact on the broader crypto market and the regulatory landscape.