Dominari Backs American Bitcoin’s Nasdaq Debut

Dominari Holdings Inc. (Nasdaq: DOMH), a company with a market cap of $86 million whose shares have surged more than 520% since the beginning of the year according to InvestingPro, has announced the definitive merger of its American Bitcoin subsidiary with Gryphon Digital Mining, Inc. (Nasdaq: GRYP), a move that will see American Bitcoin go public on the Nasdaq stock exchange. The stock-for-stock transaction is expected to close in the third quarter of this year, with American Bitcoin operating under its own brand and ticker symbol “ABTC.”

The merger will see former American Bitcoin shareholders, including Dominari Holdings, own approximately 98% of the new entity. With a healthy current ratio of 5.92 and impressive revenue growth of 790% in the last twelve months, Dominari brings strong financial metrics to the deal. American Bitcoin, which launched earlier this year with Eric Trump as its advisor and chief strategy officer, aims to be the world’s largest and most efficient Bitcoin miner, with a significant strategic Bitcoin reserve.

Kyle Wool, president of Dominari Holdings, expressed confidence in the merger, noting its alignment with Dominari’s broader strategy and business model. Dominari Holdings, a diversified holding company with interests in wealth management, investment banking and asset management, sees the merger as a value-creating move for its shareholders.