4 hours ago
American Bitcoin, a majority-owned subsidiary of Hut 8 and associated with the Trump family, is acceptable to go a publicly traded entity done a merger with Gryphon Digital Mining.
The stock-for-stock transaction volition effect successful American Bitcoin taking implicit Gryphon’s nationalist listing. The combined institution is expected to commercialized connected Nasdaq nether the ticker “ABTC” arsenic aboriginal arsenic the 3rd 4th of 2025.
The deal structure allows American Bitcoin shareholders to clasp astir 98 percent of the post-merger company, according to a connection issued by Hut 8.
Hut 8, which already controls a bulk involvement successful American Bitcoin, volition proceed to clasp a beneficial ownership involvement portion shifting operational absorption toward providing infrastructure services done semipermanent agreements. Gryphon, a micro-cap Bitcoin miner presently listed connected Nasdaq, volition service arsenic the firm conveyance for American Bitcoin’s nationalist debut.
The caller entity’s committee of directors volition dwell of Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim, with Ho, Matt Prusak, and Eric Trump making up its enforcement team.
Eric Trump, who has prominently promoted American Bitcoin’s vision, remains connected arsenic main strategy officer. The institution aims to presumption itself arsenic a nationalist Bitcoin reserve builder and brand-forward miner with a capital-light operational model.
According to materials circulated by the company, the extremity is to accumulate Bitcoin efficiently beneath marketplace outgo and amplify vulnerability done treasury holdings alternatively than absorption exclusively connected hashrate metrics.
Per American Bitcoin’s presentation, the merger is designed to unlock entree to superior markets autarkic of Hut 8’s equilibrium sheet, perchance giving the entity a much nonstop way to strategical financing.
The combined company’s exemplary focuses connected low-cost Bitcoin acquisition and semipermanent retention. It operates done Hut 8’s infrastructure pipeline, which spans implicit 1,020 megawatts of managed vigor capableness and an further 10,800 megawatts successful its improvement portfolio.
Eric Trump’s continued beingness successful the crypto assemblage follows caller enactment promoting the TRUMP meme coin, part-owning the blockchain fiscal services steadfast World Liberty Financial, and WLFI’s USD1 launch.
The timing of this transaction coincides with increasing governmental sermon astir crypto successful the United States. The BITCOIN Act of 2025, introduced successful the Senate, proposes establishing Bitcoin mining arsenic a protected activity, reflecting the currency’s expanding entrenchment successful the legislative conversation.
Gryphon’s stock terms much than tripled to $2.55 pursuing the deal’s announcement, portion Hut 8 banal roseate 11% to $15.45.
The marketplace effect suggests capitalist appetite for Bitcoin-centric nationalist vehicles remains elevated during existent terms conditions. As of precocious April, Bitcoin has been trading conscionable supra $104,000, adjacent its all-time high, creating an charismatic backdrop for companies seeking to spell nationalist with a Bitcoin-forward narrative.
Hut 8, which merged with US Bitcoin Corp successful precocious 2023, precocious reported 9.3 EH/s successful self-mining hashrate for Q1 2025, up 79% quarter-over-quarter, with its strategical reserve totaling implicit 10,200 BTC astatine the extremity of March. The institution besides posted a nett nonaccomplishment of $134 cardinal for the quarter, emphasizing the request for alternate financing structures beyond its existing equilibrium sheet.
The reverse merger avoids the complexities and timing challenges of a accepted IPO, enabling American Bitcoin to participate the nationalist markets portion maintaining operational and strategical control.
Gryphon’s continued Nasdaq eligibility, arsenic good arsenic stockholder and regulatory approvals, stay conditions for the merger’s closure. If completed, American Bitcoin volition go the latest successful a question of mining firms utilizing fiscal engineering to align their treasury strategies with nationalist superior marketplace access.
The station Trump-linked Bitcoin miner American BTC to spell nationalist via Gryphon merger appeared archetypal connected CryptoSlate.
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