A Bitcoin mining venture backed by Eric and Donald Trump Jr. is preparing to go public on Nasdaq, in a move that underscores the cryptocurrency sector’s resurgence under President Donald Trump. The company, American Bitcoin, emerged from a rebrand of American Data Centers and is launching via an all-stock merger with Gryphon Digital Mining, aiming to position itself as “the most investable Bitcoin accumulation platform in the market.”
The merger, announced just six weeks after American Bitcoin’s formation, comes as part of a broader wave of crypto-related equity deals, buoyed by surging asset prices and a pro-crypto political climate. Bitcoin has risen more than 35% in recent weeks, topping $104,000, amid investor optimism that U.S. trade policy may not be as harsh as feared.
“This brings us closer to offering every investor access to a purpose-built platform engineered for scale and long-term value creation in one of the most important asset classes of our time,” said Eric Trump, who will serve as chief strategy officer of the newly merged entity.
Meanwhile, BTC Inc — publisher of Bitcoin Magazine — announced a separate plan to merge its SPAC, Nakamoto Holdings, with Nasdaq-listed KindlyMD. The $710 million deal in equity and convertible debt will be used to buy bitcoin for the company’s treasury, further merging traditional finance with the digital asset space. KindlyMD shares skyrocketed 375% on the news.
These developments come amid a revival in crypto fundraising strategies, reminiscent of the MicroStrategy model — where companies leverage equity markets to amass large bitcoin reserves, often driving their own share prices higher. Gryphon’s stock soared as much as 350% on the announcement of its tie-up with American Bitcoin.
President Trump, who has promised to make the U.S. the global “crypto capital,” has softened federal enforcement and actively embraced digital asset ventures. He and his sons have launched or backed various crypto initiatives, including proprietary tokens, drawing both enthusiasm and scrutiny. A recent Financial Times investigation revealed that traders earned nearly $100 million in profits from Melania Trump’s crypto token just before it went public.
Other notable moves in the space include:
Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, teaming up with SoftBank and Tether to launch a $11bn listed bitcoin acquisition vehicle.
Sol Strategies and Upexi, which both raised capital to invest in Solana-linked tokens. Their share prices have more than tripled since announcing the moves.
BTC Inc’s CEO David Bailey, who played a key role in securing Trump’s appearance at a major crypto conference last year, said the sector is entering a new era:
“Traditional finance and Bitcoin-native markets are converging. The securitisation of Bitcoin will redraw the world’s economic map.”
With Bitcoin now being structured into equity, debt, and hybrid financial vehicles, Trump’s political backing appears to be accelerating the asset’s migration into the mainstream.
