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American Bitcoin, a mining company associated with Trump, plans to go public through a merger with Gryphon Digital.

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#Bitcoin
The Block
428Words
May 11, 2025

American Bitcoin, a subsidiary of Bitcoin miner Hut 8 Corp. and Trump-led American Data Centers, plans to go public through a merger with Gryphon Digital Mining, Inc. The stock-for-stock deal is expected to close by Q3 2025, pending approvals. Post-merger, American Bitcoin shareholders will own 98% of the combined company, which will trade on Nasdaq as ABTC. The move aims to scale American Bitcoin for low-cost Bitcoin accumulation and unlock growth capital independent of Hut 8's balance sheet. Leadership will remain unchanged, with key figures including Mike Ho, Matt Prusak, and Eric Trump. Hut 8 CEO Asher Genoot highlighted the strategic benefits, and Hut 8 shares rose 12% pre-market following the announcement.

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