October 25, 2025 | 01:31JP Morgan analysts report that 13 U.S.-listed Bitcoin miners achieved a record $39 billion market cap in August as major players expand into high-performance computing for artificial intelligence. This diversification strategy responds to declining mining profitability caused by increased network difficulty, higher operational costs, and reduced block rewards following April 2024’s halving event. While Bitcoin mining has become less profitable despite price increases, the transition to AI data centers requires significant infrastructure upgrades, including more complex HVAC systems. Companies like Hut 8 are developing gigawatt-scale facilities for non-mining purposes, while others like Hive Digital Technologies are adopting dual business models to capture value from both cryptocurrency mining and computing services.
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Trump-Backed Bitcoin Miner American Bitcoin Targets Nasdaq Debut
American Bitcoin, backed by the Trump brothers and majority-owned by Hut 8 Mining, plans to go public on Nasdaq in September under ticker ABTC. The company currently holds 215 BTC and aims to become a major Bitcoin mining entity. The listing follows a merger with Gryphon Digital Mining, with ownership structured at 80% Hut 8, 18% Trump brothers, and 2% Gryphon. The announcement coincides with advancing crypto-friendly legislation and institutional support, including investments from Winklevoss twins and political donations supporting pro-crypto policies. Market analysts suggest this could stimulate broader crypto market activity and altcoin season momentum.
read moreTrump-Backed Bitcoin Miner to List on Nasdaq in September
American Bitcoin, a mining company 80% owned by Hut 8 and 20% by the Trump brothers, is preparing for a Nasdaq listing in September through a merger with Gryphon Digital Mining. The deal will leave current shareholders with approximately 98% of the combined entity. The company recently raised $220 million from accredited investors plus $10 million in Bitcoin to expand mining operations and strengthen reserves. Hut 8’s CEO indicated potential international partnerships to offer Bitcoin exposure in markets where direct crypto access is limited. This listing occurs as the Trump family expands its crypto footprint, including recent ETF and joint venture announcements through Trump Media and Technology Group.
read moreAmerican Bitcoin Targets Nasdaq Debut in September
American Bitcoin is set to go public on Nasdaq in September under ticker ABTC, as confirmed by Hut 8 CEO Asher Genoot. The company is 80% owned by Hut 8, with Eric and Donald Trump Jr. holding 19%. It currently possesses 215 Bitcoin valued at approximately $24 million and aims to scale into one of the nation’s top miners. The listing comes amid a crypto-friendly regulatory shift and follows investments from the Winklevoss twins, who used Bitcoin for their stake. Hut 8, which holds over 10,600 BTC, recently raised $220 million to expand mining operations, including a new presence in Dubai.
read moreTrump Family’s $1.5B Crypto Venture with ALT5 Sigma
The Trump family’s World Liberty Financial has partnered with ALT5 Sigma to raise $1.5 billion, primarily for acquiring WLFI tokens. This move aligns with their broader strategy to leverage publicly traded companies for crypto investments, following trends set by figures like Michael Saylor. Key figures, including Eric Trump and Zach Witkoff, will take leadership roles in ALT5 Sigma. The Trump family has also launched memecoins (TRUMP, MELANIA) and expanded into Bitcoin mining. WLFI token holders overwhelmingly voted (99.94%) to make the tokens tradable, anticipating price surges and aligning investments with political support. Trump Media and Technology Group (TMTG) has also added $2B in Bitcoin to its balance sheet.
read moreCango Mines 650.5 BTC in July Amid Bitcoin Pivot
Three months after shifting its focus entirely to Bitcoin mining, Chinese conglomerate Cango (CANG) has reported a substantial increase in production, mining 650.5 BTC in July—up from 450 BTC in June. The surge follows its acquisition of Bitmain mining rigs, highlighting improved operational capacity in a competitive market. Farside Investors has added Cango to its miner dashboard, replacing Hut 8 due to insufficient disclosures. Since its full transition in April, Cango has mined a total of 954.5 BTC in its first two months, signaling strong early performance in the crypto sector.
read moreStrategy Upsizes Preferred Stock to $2B for Bitcoin Buys
Strategy has increased its preferred equity offering from $500 million to $2 billion to fund additional Bitcoin purchases, according to Bloomberg. The Michael Saylor-led firm continues to prioritize BTC accumulation, now holding 607,770 BTC—the largest corporate treasury position. The Series A Perpetual Stretch preferred shares were priced at $90 each with a 9% dividend, underwritten by Morgan Stanley, Barclays, TD Securities, and Moelis & Co. Strategy’s stock (MSTR) has surged 146% over the past year, closely tracking Bitcoin’s rally, which recently hit $119,109 amid ETF-driven demand. Public companies now hold nearly 3% of Bitcoin’s total supply, with miners like MARA Holdings and Riot Platforms also expanding their BTC reserves. The move tests the corporate-treasury-as-Bitcoin thesis as the market cycle evolves.
read moreBitcoin Miner CEOs Outearn Tech & Energy Peers
A VanEck report reveals Bitcoin mining executives at eight major firms earned an average of $14.4 million in 2024—more than double the previous year and far exceeding tech/energy sector peers. Stock-based compensation (89% of pay) is the primary driver, despite base salaries aligning with industry norms. Shareholders show resistance, with only 64% support for pay proposals (vs. 90%+ in broader markets). Some miners like Marathon and Cipher are shifting to performance-linked stock units (PSUs), but disparities remain—Riot’s $230M executive pay consumed 73% of its market-cap growth, sparking scrutiny over pay-for-performance misalignment.
read moreBitcoin Miner Exec Pay Faces Shareholder Backlash
A VanEck analysis shows Bitcoin mining executives received record compensation in 2024, with average pay packages doubling to $14.4 million – primarily in equity (89% of total pay). However, shareholder approval rates cratered to just 64%, with three major miners (Riot, Marathon, Core Scientific) receiving less than 40% support. The report highlights concerns about excessive dilution from equity grants (some exceeding 10% of shares outstanding) and short vesting periods. While some miners are adopting performance-based stock units, most compensation remains poorly aligned with long-term value creation. VanEck suggests reforms like tying pay to mining efficiency metrics and extending vesting schedules to address investor concerns.
read moreReserveOne to Go Public via $1B Merger with M3-Brigade
ReserveOne, a digital asset management company headed by Jaime Leverton—previously associated with Hut 8 and Riot Platforms—has announced a merger with M3-Brigade Acquisition V Corp. to go public. The transaction is projected to generate over $1 billion in gross proceeds, which will support the firm’s strategy of accumulating Bitcoin (BTC), Ether (ETH), and Solana (SOL), among other digital assets. Leverton emphasized that the move underscores ReserveOne’s commitment to responsible innovation, financial inclusion, and fostering a transparent digital asset market. The merger marks a significant step in expanding institutional participation in crypto reserves.
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