Trump-linked American Bitcoin secures Nasdaq listing through merger with Gryphon Digital Mining

Key Takeaways

American Bitcoin is merging with Gryphon Digital Mining in a bid to unlock market entry.
Hut 8 will keep a majority stake and stay the unique infrastructure accomplice for American Bitcoin.

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American Bitcoin, a newly established Bitcoin mining entity backed by Bitcoin miner Hut 8 and Trump-led American Data Centers, will go public through a stock-for-stock merger with Nasdaq-listed Gryphon Digital Mining, in response to a Monday announcement from Hut 8.

The merger is anticipated to shut as early as Q3 2025, topic to customary approvals. Post-merger, the mixed entity will function underneath the American Bitcoin model and commerce on Nasdaq underneath the ticker “ABTC.”

The transfer is designed to speed up American Bitcoin’s scale and positioning as a low-cost car for Bitcoin accumulation and infrastructure growth within the US. Through this merger, Hut 8 goals to unlock new progress capital impartial of its personal steadiness sheet whereas sustaining publicity to long-term upside within the Bitcoin market.

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

“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,” he added.

The merged firm will likely be led by American Bitcoin’s present board of administrators, together with Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim, with Eric Trump becoming a member of the administration staff.

Existing American Bitcoin stockholders are anticipated to retain roughly 98% possession of the mixed firm. Hut 8 will keep a majority stake within the mixed firm’s issued and excellent capital inventory after the merger.

Hut 8 will retain a long-term position as American Bitcoin’s unique infrastructure and operations accomplice. This relationship, secured through prolonged industrial agreements, is anticipated to generate regular income for Hut 8’s Power and Digital Infrastructure divisions.

Hut 8 introduced the formation of American Bitcoin in late March through a strategic, cashless merger with American Data Centers (ADC), an AI infrastructure agency based by Dominari Holdings in collaboration with Eric Trump and Donald Trump Jr.

As a part of the settlement, Hut 8 retains an 80% possession stake, whereas the Trump-affiliated ADC holds the remaining 20%.

According to knowledge tracked by Bitcoin Treasuries, Hut 8 presently holds 10,273 Bitcoin, value round $841 million. This constitutes practically 0.05% of the entire Bitcoin provide and ranks the corporate because the sixth-largest public company holder of Bitcoin.

Reverse mergers and SPAC-like buildings are more and more in style amongst Bitcoin-centric entities seeking to scale rapidly and entry the capital markets.

Last week, Strive Asset Management, backed by Vivek Ramaswamy, introduced a merger with Asset Entities to kind a public Bitcoin treasury car aiming to lift as much as $1 billion.

BTC Inc. CEO David Bailey launched Nakamoto, a $300 million Bitcoin funding agency, with plans to go public by way of a Nasdaq merger by summer time.

These developments observe the launch of Twenty One, a Bitcoin-native monetary agency led by Jack Mallers, backed by Cantor Fitzgerald, Tether, and SoftBank, with ambitions to build up greater than 42,000 BTC.

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