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American Bitcoin to Go Public Through Merger with Gryphon Digital

Trump-affiliated Bitcoin mining company, American Bitcoin, plans to go public through a merger with Gryphon Digital Mining, Inc.

The deal, structured as a stock-for-stock transaction, will see Gryphon acquire the company and operate under the American Bitcoin brand once closed.

Merger Details

According to a May 12 press release, the newly combined entity will be led by American Bitcoin’s existing board of directors and management team. This includes key figures such as Mike Ho, Asher Genoot, Justin Mateen, Michael Broukhim, Matt Prusak, and Eric Trump.

Once the merger is sealed, American Bitcoin’s current shareholders are expected to hold around 98% of the new entity, while Gryphon holders will own approximately 2%. Hut 8 will also remain the majority owner of the total shares.

The new company plans to list on the Nasdaq under the ticker symbol “ABTC,” with the deal expected to close as early as the third quarter of 2025.

Hut 8 will continue to play a major role after the merger, serving as American Bitcoin’s exclusive infrastructure and operations partner. The companies have outlined long-term commercial agreements that are expected to provide stable, contracted revenue streams for the former’s power and digital infrastructure divisions.

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

He explained that by taking American Bitcoin public, the company aims to gain direct access to dedicated growth capital without relying on Hut 8’s balance sheet. The goal is also to maintain long-term exposure to potential Bitcoin gains for its shareholders.

Trump-Backed American Bitcoin

American Bitcoin was launched in March 2025 through a strategic partnership between Hut 8 and American Data Centers. The idea was to build the world’s largest, most efficient pure-play BTC miner and a strategic Bitcoin reserve.

The venture is backed by Hut 8’s infrastructure and industry expertise, with daily operations managed under a shared services agreement. Soon after the launch, American Data Centers was rebranded as American Bitcoin, with Eric Trump stepping in as co-founder and Chief Strategy Officer.

This latest development adds to the Trump family’s growing portfolio in the crypto industry. In addition to the mining company, they are involved in the World Liberty Financial (WLF) DeFi project, which recently announced that its USD1 stablecoin will be the settlement currency for a $2 billion investment by Abu Dhabi-based MGX into Binance.

The family’s media company, Trump Media, also has a deal with Crypto.com to create ETFs, while the President and the First Lady have launched their own meme coins, Official Trump (TRUMP) and Melania Meme (MELANIA).

Pos American Bitcoin to Go Public Through Merger with Gryphon Digital muncul pertama kali di CryptoPotato.


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