American Bitcoin Corp Nears Merger With Gryphon Digital Mining, Eyes Nasdaq Listing
American Bitcoin Corp (ABC), a Bitcoin mining company backed by the Trump family, is approaching the final stages of its merger with Gryphon Digital Mining. The combined company is set to be listed on Nasdaq, marking a significant step in the evolving landscape of U.S.-based Bitcoin mining operations.
On July 31, Gryphon filed a proxy statement with the U.S. Securities and Exchange Commission (SEC), officially scheduling a shareholder vote on the merger for August 27. In a key regulatory milestone, the SEC also declared the S-4 registration statement effective, a necessary step for the deal to proceed.
The merger was first announced in May, with ABC agreeing to combine with Gryphon, which currently trades under the ticker "GRYP" on Nasdaq. As part of its preparation for the transaction, ABC raised $220 million through private equity last month, signaling strong investor interest and financial backing for the new entity.
This move could reshape the U.S. Bitcoin mining industry by bringing together substantial capital and existing public market exposure, potentially creating a more competitive player in the sector.