In this news:
Hut 8’s subsidiary American Bitcoin is gearing up for a public listing on the Nasdaq.
American Bitcoin, which lists President Trump’s son, Eric Trump, as cofounder and chief strategy officer, has entered into an agreement to merge with publicly traded bitcoin miner Gryphon Digital. The stock-for-stock reverse merger is expected to close in Q3 2025 and will see the combined company move forward under the American Bitcoin name, trading under the ticker ABTC.
Once the merger finalizes, American Bitcoin stock holders will own 98% of the combined company, while Gryphon Digital holders will own 2%.
"Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market. Today’s announcement marks an important milestone in that journey, bringing us closer to offering every investor access to a purpose-built platform engineered for scale and long-term value creation in what we believe is one of the most important asset classes of our time,” Eric Trump said in a press release.
Gryphon Digital shares surged as high as 400% following the news, while Hut 8 moved 32%.
Gryphon Digital shares popped on news of the American Bitcoin merger
Colin Harper via Google Stock Viewer
What is America Bitcoin, the Trump Family-Affiliated Bitcoin Mining Company?
Materializing almost overnight, American Bitcoin seized the attention of the bitcoin mining world when Hut 8 announced the partnership on March 31, 2025.
American Bitcoin was established as a Hut 8 subsidiary, and in return for an 80% stake in the company, Hut 8 transferred nearly all of its self-mining operations to American Bitcoin (10 EH/s, or 1.2% of the Bitcoin network’s computing power at the time). Matt Prusak took the helm of American Bitcoin as CEO, while Co-Founder Eric Trump was appointed as Chief Strategy Officer.
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