U.S. Cryptocurrency Bitcoin to Achieve Public Status Via Merger with Gryphon Digital Ltd.
Going Public: American Bitcoin, the Trump-Linked Bitcoin Mining Company
Get ready for a significant shakeup in the Bitcoin mining sphere! American Bitcoin, a company with ties to the Trump family, is planning to go public through a merger with Gryphon Digital Mining, Inc.
The deal, a stock-for-stock transaction, will see Gryphon taking over American Bitcoin and operating under the brand once everything is formalized.
Merger Highlights
According to a May 12 press release, the new entity will be helmed by American Bitcoin's current board of directors and management team. Key players such as Mike Ho, Asher Genoot, Justin Mateen, Michael Broukhim, Matt Prusak, and Eric Trump will continue to lead the charge. Post-merger, American Bitcoin's current shareholders are expected to hold about 98% of the company, while Gryphon shareholders will own approximately 2%. Hut 8 will remain the majority owner of the total shares.
Once the red tape is sorted out, American Bitcoin will debut on the Nasdaq under the ticker symbol "ABTC", with the deal expected to close as early as the third quarter of 2025.
Hut 8 will continue to serve as American Bitcoin's exclusive infrastructure and operations partner. The companies have outlined long-term commercial agreements that are expected to provide stable, contracted revenue streams for Hut 8's power and digital infrastructure divisions.
"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, CEO of Hut 8.
The goal is to gain direct access to dedicated growth capital without relying on Hut 8's balance sheet, all while maintaining long-term exposure to potential Bitcoin gains for American Bitcoin's shareholders.
Trump-Backed American Bitcoin
American Bitcoin was brought to life in March 2025 through a strategic partnership between Hut 8 and American Data Centers. The ultimate goal was to build the largest, most efficient pure-play Bitcoin miner and a strategic Bitcoin reserve.
Backed by Hut 8's infrastructure and industry expertise, American Bitcoin's daily operations are managed under a shared services agreement. Eric Trump stepped in as co-founder and Chief Strategy Officer shortly after the launch, with American Data Centers being rebranded as American Bitcoin.
This latest development adds another feather to the Trump family's crypto cap. Alongside American Bitcoin, they are involved in the World Liberty Financial (WLF) DeFi project, which recently announced that its USD1 stablecoin will be the settlement currency for a $2 billion investment by Abu Dhabi-based MGX into Binance.
Trump Media, the family's media company, has a deal with Crypto.com to create ETFs, while the President and the First Lady have launched their own meme coins, Official Trump (TRUMP) and Melania Meme (MELANIA).
Read more:
- Trump-affiliated Bitcoin Miner American Bitcoin to Go Public
- American Bitcoin Announces Plans for Nasdaq Listing
- The strategic merge between American Bitcoin and Gryphon Digital Mining, Inc. signals a bold entry of Defi and crypto elements into traditional finance, as the new entity, helmed by key players like Eric Trump, Asher Genoot, and Michael Ho, aims to list on the Nasdaq under the ticker symbol "ABTC".
- In a move that expands the Trump family's crypto ventures, American Bitcoin, a Trump-linked Bitcoin mining company, is set to go public, marking a significant step towards decentralized finance (Defi) integration in the mainstream finance sector.
- As American Bitcoin, with ties to the Trump family, prepares to list on the Nasdaq, it's evident that Bitcoin mining, DeFi, and crypto are increasingly merging with traditional finance, bringing a new wave of innovation to the broader finance industry.
