Trump-Linked Bitcoin Miner Goes Public, Industry Sees Growth, Regulation, and Rising Risks

Trump-Linked Bitcoin Mining Firm to Go Public via Nasdaq Merger

According to Mitrade, American Bitcoin, a mining company supported by the Trump family, is set to go public through a share-swap merger with Nasdaq-listed Gryphon Digital Mining. The new entity will trade under the ticker "ABTC." Hut 8 will retain a majority stake and continue as the exclusive infrastructure provider for American Bitcoin after the merger. The merger aims to accelerate the company's Bitcoin accumulation strategy and expand its infrastructure in the United States. The transaction, pending regulatory approval, is expected to close in the third quarter of 2025.

Following the merger, American Bitcoin shareholders will hold 98% of the combined company, with Hut 8 remaining the majority shareholder. Eric Trump will join the new leadership team, alongside directors Mike Ho, Justin Mateen, and Michael Broukhim. The combined operation is positioned as a cost-effective accumulation vehicle at the intersection of Bitcoin mining and U.S. infrastructure, leveraging public capital markets for expansion. Hut 8, which founded American Bitcoin in March through a merger with American Data Centers (ADC), will secure recurring revenue from its energy and digital units through commercial agreements.

The Nasdaq listing will provide American Bitcoin with access to U.S. capital markets and strengthen institutional enthusiasm for crypto-native companies. Despite a 3% drop in Bitcoin price to $101,809 after reaching a high of $105,800, steady buy orders around $101,000 indicate underlying support. Volatility remains elevated due to structural changes in mining and capital flows.

• Hut 8 remains the exclusive infrastructure and operations partner.
• Eric Trump and other notable directors join the leadership team.
• The merger is designed to facilitate large-scale, cost-effective Bitcoin accumulation.

“This transaction marks the next step in building American Bitcoin as a purpose-built vehicle for large-scale, low-cost Bitcoin accumulation,” said Hut 8 CEO Asher Genoot.

Key Takeaway: The merger positions American Bitcoin for significant expansion in the U.S. mining sector, with strong institutional backing and a focus on cost-effective Bitcoin accumulation. (Source: Mitrade)

ZA Miner Enables Institutional Bitcoin Yields via Cloud Hashrate Services

GlobeNewswire reports that ZA Miner, a cloud-based cryptocurrency mining provider regulated by the UK's FCA, has partnered with Coinbase's newly launched Bitcoin Yield Fund. This fund offers institutional investors outside the United States an annual yield of 4% to 8% in Bitcoin. The initiative addresses the growing global demand for stable income mechanisms in digital assets by combining arbitrage strategies with cloud mining capacity.

The Coinbase Bitcoin Yield Fund employs a "cash-and-carry" arbitrage model, designed to mitigate price volatility risks by capturing the spread between spot and futures prices of Bitcoin. ZA Miner supports the initiative by providing managed hashrate, enabling mining-based income channels. All operations are conducted under regulatory oversight, ensuring compliance with UK financial standards and prioritizing fund transparency and security.

• Investors access mining rewards via cloud-based contracts, eliminating the need for physical hardware.
• Returns are based on real-time mining performance, with easy withdrawal or conversion of earnings.
• All transactions are auditable and subject to standard regulatory controls.

This development marks a significant convergence between mining infrastructure and structured crypto financial products. While Coinbase manages the arbitrage-based yield component, ZA Miner focuses on maintaining computational power and ensuring reliable mining participation across its server network. This dual involvement allows institutional investors to diversify their income streams by combining arbitrage returns with mining-based Bitcoin distributions.

The integration reflects a broader industry trend toward transparency, regulation, and automation in digital asset investments. By formalizing access to cloud mining within a compliant structure, the approach aims to make crypto-based yields a more reliable option for institutions seeking inflation-resistant investment strategies.

Key Takeaway: ZA Miner and Coinbase's collaboration provides regulated, cloud-based access to institutional Bitcoin yields, offering annual returns of 4% to 8% and combining arbitrage with mining income. (Source: GlobeNewswire)

Bitcoin Mining: U.S. Dominance and Market Recovery

BondGuide highlights a significant recovery in the crypto market, with Bitcoin approaching its previous all-time high. Approximately 60% of the global crypto market capitalization is attributed to the United States. In Bitcoin mining, the U.S. leads with over 74% of reported global hashrate according to the Cambridge Digital Mining Industry Report, though this figure is debated due to methodological issues such as VPN use and shifting mining farm locations. More recent sources like the Hashrate Index report a U.S. share of 36%, but the country remains the clear leader.

Europe, while not a major player in mining, is becoming increasingly relevant for the crypto sector due to the introduction of the MiCA regulation, which provides a unified legal framework. This clarity is seen as a competitive advantage, especially as regulatory uncertainty persists in the U.S. Despite Donald Trump's crypto-friendly stance, the lack of clear regulation in the U.S. is seen as a deterrent, potentially increasing Europe's attractiveness.

Despite the strong market upswing, investor enthusiasm remains subdued. According to Google Trends, global search volume for "Bitcoin" is significantly below average, with a trend score of just 21 out of 100. Notably, nearly 98% of Bitcoin wallets are currently in profit, while many altcoin investors remain at a loss.

• The U.S. leads global Bitcoin mining, with reported hashrate shares between 36% and 74%.
• Europe's regulatory clarity may boost its attractiveness for crypto businesses.
• Bitcoin, Ethereum, and Solana have all posted strong gains in the past month.
• Investor sentiment remains cautious despite market gains.

Key Takeaway: The U.S. maintains dominance in Bitcoin mining, while Europe gains ground through regulatory clarity. Bitcoin and major altcoins have seen significant price increases, but overall investor enthusiasm is still muted. (Source: BondGuide)

Malaysia’s TNB Reports Fourfold Increase in Electricity Theft Linked to Illegal Crypto Mining

FinanceFeeds reports that Tenaga Nasional Berhad (TNB), Malaysia's national electricity provider, has observed a dramatic rise in electricity theft associated with illegal Bitcoin mining. In 2023, TNB recorded 2,397 such cases, a fourfold increase from 610 cases in 2018. The financial impact is substantial: between 2018 and 2023, TNB estimates losses from electricity theft by illegal crypto miners at 3.4 billion RM (approximately $720 million USD).

These illegal operations often involve hundreds of mining machines running continuously in rented residential or commercial properties, with tampered meters to avoid detection and payment. The consequences include voltage instability, increased fire risk, and strain on the local power grid. In 2023 alone, TNB conducted 74 raids related to illegal crypto mining, seizing thousands of mining devices in cooperation with police and other authorities.

• Electricity theft cases (2018): 610
• Electricity theft cases (2023): 2,397
• Estimated losses (2018–2023): 3.4 billion RM (~$720 million USD)
• Raids conducted in 2023: 74

To combat this trend, TNB has installed smart meters in high-risk areas, enabling real-time monitoring of consumption patterns and detection of anomalies. Predictive analytics and AI-driven techniques are also employed to identify potential criminal activity. Legal consequences for electricity theft in Malaysia are severe, with penalties of up to 1 million RM, ten years in prison, or both.

“These are not small businesses. Some of the facilities we found consist of hundreds of mining machines running non-stop, mostly in rented residential or commercial buildings where tenants have tampered with the meter installations,” a TNB spokesperson stated.

Public awareness is crucial, as TNB received over 1,600 tips about potential Bitcoin mining activities in 2023, leading to several successful raids. The situation serves as a warning of how unchecked crypto mining can strain national infrastructure, highlighting the need for a balance between innovation and enforcement.

Key Takeaway: Malaysia faces a significant challenge with illegal crypto mining, resulting in a fourfold increase in electricity theft cases and losses of 3.4 billion RM over six years. Enhanced monitoring and strict penalties are being implemented to address the issue. (Source: FinanceFeeds)

Sources:

• Mit der Trump-Familie verbundene Bitcoin-Mining-Firma geht durch Nasdaq-Fusion an die Börse
• ZA Miner unterstützt Zugang zu institutionellen Bitcoin-Renditen durch Cloud-Hashrate-Dienste
• Eric Trump-unterstützter Bitcoin-Riese bereitet sich auf den Nasdaq-Durchbruch vor
• Kryptos: nachhaltige Recovery bei Bitcoin und Co.?
• Malaysias TNB meldet vierfachen Anstieg des Stromdiebstahls im Zusammenhang mit illegalem Krypto-Mining seit 4