Recently, a noteworthy piece of news has sparked widespread discussion in the crypto world. The crypto mining company American Bitcoin, led by two of Trump’s sons, announced that it will merge with Gryphon Digital Mining and plans to debut in the capital market this September, with the stock code expected to be "ABTC".
After this merger transaction is completed, the Trump family will jointly hold about 98% of the equity in the new company with the well-known North American mining company Hut 8, marking the first deep integration of high-level political power in the United States with crypto mining, which has attracted significant attention from the industry.
The establishment and upcoming listing of American Bitcoin not only brings unprecedented political support to the Bitcoin mining industry but may also redefine the developmental direction of the entire industry. The company's name itself carries obvious ideological connotations, seemingly attempting to shape Bitcoin mining as a new form of "national strategic behavior" and "patriotic action in the digital age."
This move may contain multiple strategic intentions: first, to combine energy-intensive mining activities with the "energy independence" policy advocated by the United States, thereby consolidating support from traditional energy sectors for specific political factions; second, to strive for a voice in the future digital currency system by directly participating in the production process of BTC; finally, to seek the support of the increasingly growing group of crypto assets holders.
Looking back at the recent changes in the global Bitcoin mining landscape, it can be described as a whirlwind. In 2021, China completely banned mining activities, leading to the transfer of over 50% of the global hash power. The United States, leveraging the advantages of energy-rich areas like Texas, quickly embraced this wave of industrial shift and has now become the center of global Bitcoin hash power.
The Trump family is now entering the crypto mining sector, which not only demonstrates their confidence in this emerging industry but may also have a profound impact on the future development of the entire sector. As the listing plan for American Bitcoin gradually progresses, the industry will closely watch how this new player changes the rules of the game in crypto assets mining.
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DeFi_Dad_Jokes
· 08-31 15:26
It's another monopoly, right?
View OriginalReply0
SerumSqueezer
· 08-31 13:33
Ha, another mining boss has come ashore.
View OriginalReply0
AllInAlice
· 08-29 17:40
Chuan Jianguo is about to go all in on the mining circle.
Recently, a noteworthy piece of news has sparked widespread discussion in the crypto world. The crypto mining company American Bitcoin, led by two of Trump’s sons, announced that it will merge with Gryphon Digital Mining and plans to debut in the capital market this September, with the stock code expected to be "ABTC".
After this merger transaction is completed, the Trump family will jointly hold about 98% of the equity in the new company with the well-known North American mining company Hut 8, marking the first deep integration of high-level political power in the United States with crypto mining, which has attracted significant attention from the industry.
The establishment and upcoming listing of American Bitcoin not only brings unprecedented political support to the Bitcoin mining industry but may also redefine the developmental direction of the entire industry. The company's name itself carries obvious ideological connotations, seemingly attempting to shape Bitcoin mining as a new form of "national strategic behavior" and "patriotic action in the digital age."
This move may contain multiple strategic intentions: first, to combine energy-intensive mining activities with the "energy independence" policy advocated by the United States, thereby consolidating support from traditional energy sectors for specific political factions; second, to strive for a voice in the future digital currency system by directly participating in the production process of BTC; finally, to seek the support of the increasingly growing group of crypto assets holders.
Looking back at the recent changes in the global Bitcoin mining landscape, it can be described as a whirlwind. In 2021, China completely banned mining activities, leading to the transfer of over 50% of the global hash power. The United States, leveraging the advantages of energy-rich areas like Texas, quickly embraced this wave of industrial shift and has now become the center of global Bitcoin hash power.
The Trump family is now entering the crypto mining sector, which not only demonstrates their confidence in this emerging industry but may also have a profound impact on the future development of the entire sector. As the listing plan for American Bitcoin gradually progresses, the industry will closely watch how this new player changes the rules of the game in crypto assets mining.