American Bitcoin

The Digital Asset Market Clarity Act has stalled after bipartisan opposition derailed a key procedural vote in the Senate. Ethics disputes, election timing, industry strategy and competing House and Senate approaches all weighed on the crypto market structure push.

American Bitcoin board member Justin Mateen bought 306,981 Class A shares across two trading sessions after the company’s latest quarterly update. The purchases lifted his beneficial ownership to 492,297 shares as investors track the miner’s bitcoin treasury strategy.

Matt Prusak is leaving American Bitcoin as president and interim CFO to join Giga Energy as chief business officer and interim CFO. The move highlights a widening shift from bitcoin mining leadership toward power infrastructure and AI-ready data center development.

Benchmark nearly doubled its price target on Hut 8 to $165 from $85, citing the value of the Beacon Point AI data center campus and the company’s faster shift into AI infrastructure. The broker said contracted leases, large-scale project financing and a development pipeline of more than 9 gigawatts support a longer runway despite recent share weakness.