Trump Family Backed American Bitcoin To Go Public via Merger With Gryphon Digital

American Bitcoin’s Public Debut via Merger with Gryphon Digital Mining

American Bitcoin, a majority-owned subsidiary of Hut 8 Corp. (HUT) and backed by the Trump family, is set to go public through a merger with Gryphon Digital Mining (GRYP). This strategic move has sent ripples through the financial markets, with Hut 8’s shares experiencing a 12% surge in pre-market trading and Gryphon Digital Mining soaring over 200%.

The merger’s foundation lies in the March union of American Data Center, a firm owned by Eric Trump and Donald Trump Jr., with American Bitcoin. This partnership resulted in the Trump brothers holding a 20% stake in American Bitcoin, while Hut 8 retains a controlling 80% interest.

The upcoming stock-for-stock transaction will see Gryphon Digital Mining acquire American Bitcoin. The combined entity will operate under the American Bitcoin name, trading on the Nasdaq exchange under the ticker symbol “ABTC.” Market analysts project the merger’s completion as early as the third quarter of 2025.

Crucially, American Bitcoin will maintain its existing leadership structure and board of directors, with CEO Mike Ho continuing at the helm. The company’s core mission—the cost-effective accumulation of Bitcoin (BTC)—remains unchanged. Asher Genoot, CEO of Hut 8, highlighted the merger’s significance, stating it represents “the next step in scaling American Bitcoin as a purpose-built vehicle for low-cost Bitcoin accumulation at scale.” He further emphasized the anticipated benefits of accessing dedicated growth capital independently of Hut 8’s financial resources.

Post-merger, current American Bitcoin shareholders are expected to own approximately 98% of the newly formed company. Hut 8 will retain its majority ownership and serve as the exclusive infrastructure and operations partner, solidifying its strategic role in the venture. This partnership underscores Hut 8’s commitment to supporting American Bitcoin’s growth trajectory. The merger positions American Bitcoin for significant expansion and increased capital access within the burgeoning cryptocurrency market. The Trump family’s involvement, while representing a notable aspect, does not overshadow the core business focus on Bitcoin accumulation and technological infrastructure.