Trump-affiliated Bitcoin mining firm, American Bitcoin, plans to go public by means of a merger with Gryphon Digital Mining, Inc.
The deal, structured as a stock-for-stock transaction, will see Gryphon purchase the corporate and function beneath the American Bitcoin model as soon as closed.
Merger Particulars
In keeping with a Could 12 press release, the newly mixed entity might be led by American Bitcoin’s present board of administrators and administration crew. This consists of key figures similar to Mike Ho, Asher Genoot, Justin Mateen, Michael Broukhim, Matt Prusak, and Eric Trump.
As soon as the merger is sealed, American Bitcoin’s present shareholders are anticipated to carry round 98% of the brand new entity, whereas Gryphon holders will personal roughly 2%. Hut 8 may also stay the bulk proprietor of the full shares.
The brand new firm plans to listing on the Nasdaq beneath the ticker image “ABTC,” with the deal anticipated to shut as early because the third quarter of 2025.
Hut 8 will proceed to play a significant function after the merger, serving as American Bitcoin’s unique infrastructure and operations accomplice. The businesses have outlined long-term industrial agreements which can be anticipated to supply secure, contracted income streams for the previous’s energy and digital infrastructure divisions.
“This transaction marks the following step in scaling American Bitcoin as a purpose-built car for low-cost Bitcoin accumulation at scale,” mentioned Asher Genoot, CEO of Hut 8.
He defined that by taking American Bitcoin public, the corporate goals to achieve direct entry to devoted progress capital with out counting on Hut 8’s steadiness sheet. The aim can also be to keep up long-term publicity to potential Bitcoin good points for its shareholders.
Trump-Backed American Bitcoin
American Bitcoin was launched in March 2025 by means of a strategic partnership between Hut 8 and American Information Facilities. The thought was to construct the world’s largest, best pure-play BTC miner and a strategic Bitcoin reserve.
The enterprise is backed by Hut 8’s infrastructure and trade experience, with each day operations managed beneath a shared companies settlement. Quickly after the launch, American Information Facilities was rebranded as American Bitcoin, with Eric Trump stepping in as co-founder and Chief Technique Officer.
This newest growth provides to the Trump household’s rising portfolio within the crypto trade. Along with the mining firm, they’re concerned within the World Liberty Monetary (WLF) DeFi mission, which just lately announced that its USD1 stablecoin would be the settlement foreign money for a $2 billion funding by Abu Dhabi-based MGX into Binance.
The household’s media firm, Trump Media, additionally has a deal with Crypto.com to create ETFs, whereas the President and the First Girl have launched their very own meme cash, Official Trump (TRUMP) and Melania Meme (MELANIA).
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