American $BTC a cryptocurrency mining firm backed by Eric Trump and Donald Trump Jr., is set to go public through a merger with Gryphon Digital Mining. The all-stock transaction will result in the combined entity trading on the Nasdaq under the ticker symbol "ABTC."
The merger, expected to close in the third quarter of 2025, will see existing shareholders, including the Trump brothers and crypto miner Hut 8, retaining 98% ownership of the new company. Hut 8, which formed American Bitcoin in March via a merger with American Data Centers, will continue to serve as the exclusive infrastructure and operations partner.
Eric Trump will remain as the Chief Strategy Officer of American $BTC emphasizing the firm's vision to build a scalable and investable Bitcoin accumulation platform. The leadership team will also include Mike Ho, Matt Prusak, and Asher Genoot, the CEO of Hut 8.
The announcement of the merger led to a significant surge in Gryphon's shares, which tripled, while Hut 8 saw an 11% increase. This move aligns with a broader push by President Donald Trump's family into the crypto space, including previous ventures such as a meme coin and World Liberty Financial.
President Trump has voiced support for a crypto-friendly regulatory environment, aiming to make the United States the "crypto capital of the planet." His administration's pro-crypto stance has garnered support from prominent industry figures and investors.
The merger positions American Bitcoin to become a leading investment platform for accumulating $BTC reflecting a growing trend where companies offer stock-based exposure to cryptocurrencies. This model has gained popularity since being introduced by MicroStrategy in 2020.
The combined company's focus on scalability and strategic Bitcoin accumulation aims to capitalize on the increasing institutional adoption of digital assets. With the Trump family's backing and Hut 8's operational expertise, American Bitcoin is poised to make a significant impact in the cryptocurrency mining industry.
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