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.

American Bitcoin, a subsidiary of Bitcoin miner Hut 8 Corp. and Trump-led data firm American Data Centers, intends to go public through a definitive merger agreement with Gryphon Digital Mining, Inc. The stock-for-stock transaction is expected to close as early as the third quarter of 2025, pending shareholder and regulatory approvals, according to a Monday press release.The merger structure will see American Bitcoin shareholders owning approximately 98% of the combined company, with Gryphon shareholders holding the remaining 2%. Also, the entity is expected to operate under the American Bitcoin brand and trade on Nasdaq under the ticker symbol ABTC.“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, Hut 8 CEO.American Bitcoin was unveiled in March this year through a strategic partnership between Hut 8 and American Data Centers, which counts Eric Trump and Donald Trump Jr. as investors. Genoot previously shared plans to transition the Trump-backed BTC mining to a public company on April 1.“By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet, while preserving long-term exposure to Bitcoin upside for our shareholders,” Genoot added. Hut 8 shares rose 12% in pre-market hours following the news, per Yahoo Finance.Leadership at American Bitcoin remains the same, with Mike Ho as executive chairman, CEO Matt Prusak, and Chief Strategy Officer Eric Trump. Hut 8 CEO Asher Genoot, Tinder co-founder Justin Mateen, and FabFitFun co-founder Michael Broukhim will also retain their board positions after the merger.

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