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American Bitcoin is going nationalist done a merger with Gryphon Digital Mining, with the combined entity operating nether the American Bitcoin brand.
Bitcoin mining steadfast American Bitcoin is going nationalist done a merger with crypto mining steadfast Gryphon Digital Mining, the companies announced connected May 12.
Under the terms of the deal, Gryphon Digital Mining volition get American Bitcoin successful a stock-for-stock transaction. After the merger, the caller institution volition run nether the American Bitcoin marque and beryllium led by its committee of directors, which includes Eric Trump, lad of US President Donald Trump.
News of the merger coincided with a crisp emergence successful Graphon Digital Mining’s banal price, which climbed from $0.52 connected May 9 to $2.15 astatine the clip of writing, a summation of much than 313%, according to Google Finance.
The announcement follows early April reports that American Bitcoin was considering an archetypal nationalist offering (IPO).
Gryphon Digital Mining stock price. Source: Google FinanceAmerican Bitcoin is simply a majority-owned subsidiary of vigor infrastructure, crypto mining, and information halfway steadfast Hut 8. Hut 8 CEO Asher Genoot said the institution aims to marque American Bitcoin “a purpose-built conveyance for low-cost Bitcoin accumulation astatine scale.” He added:
“By taking American Bitcoin public, we expect to unlock nonstop entree to dedicated maturation superior autarkic of Hut 8’s equilibrium sheet, portion preserving semipermanent vulnerability to Bitcoin upside for our shareholders.”Related: Top Bitcoin miners produced astir $800M of BTC successful Q1 2025
Shareholders and post-merger structure
According to the announcement, existing American Bitcoin shareholders volition ain astir 98% of the recently formed company. Following the transaction, the caller institution volition power astir of the outstanding stock.
Hut 8 volition proceed to negociate American Bitcoin’s infrastructure and operations done semipermanent commercialized agreements. Those deals are expected, according to the announcement, to make stable, contracted gross streams for Hut 8’s powerfulness and integer infrastructure segments.
Related: Bitcoin miner Hut 8 grows hashrate 79% contempt $134M quarterly loss
What is American Bitcoin?
Hut 8 acquired a bulk involvement successful American Bitcoin erstwhile it was unveiled astatine the extremity of March, with backing from several members of Trump's family. The company, formerly known arsenic American Data Center, was founded by a radical of investors, including Trump’s sons, Donald Trump Jr. and Eric Trump.
Following the deal, American Bitcoin took ownership of Hut 8’s Bitcoin mining hardware. The announcement astatine the clip explained that the caller steadfast “aims to go the world’s largest, astir businesslike pure-play Bitcoin miner portion gathering a robust strategical Bitcoin reserve.”
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