American Bitcoin to Go Public Through Merger With Gryphon Digital Mining
American Bitcoin, a unit majority-owned by Hut 8 and backed by the Trump family, will go public through a merger with Gryphon Digital Mining (GRYP).
- Shares of Hut 8 Corp. increased by 12% in pre-market trading.
- Gryphon Digital Mining shares rose over 200% following the announcement.
- The Trump brothers own 20% of American Bitcoin; Hut 8 holds 80%.
- The stock-for-stock transaction will rebrand Gryphon as American Bitcoin, trading on Nasdaq under “ABTC.”
- The merger is expected to finalize in Q3 2025.
- American Bitcoin will retain its leadership, focusing on low-cost BTC accumulation.
- Post-merger, existing shareholders of American Bitcoin will own approximately 98% of the new entity.
- Hut 8 will maintain majority ownership and be the exclusive infrastructure and operations partner.