Gryphon Digital Mining is expected to merge with American Bitcoin at the beginning of September, and shares have increased 231% since the announcement in May, reflecting significant market expectations.
The stock deal retains the name American Bitcoin, with ownership concentrated in Eric Trump, Donald Trump Jr., and Hut 8. The lively context of cryptocurrency IPOs in 2025 further reinforces the excitement.
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The merger between Gryphon and American Bitcoin will be completed soon, with trading expected at the beginning of September, according to Reuters.
Gryphon shares rose 42.1% to $1.75 on the day, and increased 231% since May, according to Google Finance.
The all-stock deal retains the name American Bitcoin; Eric Trump, Donald Trump Jr., and Hut 8 hold 98% of the shares; strategy focuses on accumulating BTC and expanding in Asia.
When will the merger between Gryphon and American Bitcoin take place?
According to Reuters, Hut 8 CEO Asher Genoot stated that the deal is expected to be completed soon, and shares of the merged company will begin trading in early September. This is a key timeframe positioning American Bitcoin post-merger.
Clear progress information helps reduce uncertainty, often acting as a catalyst for valuations ahead of trading. In the context of active IPOs and listings of cryptocurrency companies, a merger with standardized structure and schedule is even more likely to attract waiting capital.
Source: Reuters, 08/28/2025. Link: Reuters.
How did Gryphon's shares react before the deal?
On the fifth day, Gryphon's shares rose 42.1% to $1.75 from $1.35, according to Google Finance. Since the merger announcement in May, shares have increased a total of 231%.
The price increase reflects expectations of synergy post-merger, better capital access, and a new brand positioning. Strong price increases often accompany high volatility as investors revalue assets before the trading date of the merged entity.
Source: Google Finance: GRYP.
What is the structure of this all-stock deal?
The deal is all-stock, with the new entity retaining the name American Bitcoin. Founders Eric Trump and Donald Trump Jr., along with Hut 8, will own 98% of the entity after the merger, according to Reuters.
All-stock structures often emphasize confidence in future value, limiting cash outflow compared to cash. Retaining the American Bitcoin brand helps maintain unified recognition, while concentrated ownership can provide clear strategic direction in the early stages.
Source: Reuters, 08/28/2025. Link: Reuters.
Who are the key investors that have been confirmed?
Hut 8 CEO Asher Genoot is the largest investor in American Bitcoin. Two other foundational investors are Cameron Winklevoss and Tyler Winklevoss, co-founders of the Gemini exchange, who have participated as anchor investors.
The investor lineup associated with major industry figures often helps enhance credibility and fundraising ability. Cointelegraph reported that it contacted American Bitcoin for comment but had not received a response at the time of publication, indicating that information is still being updated.
Source: Reuters; Cointelegraph reports on anchor investors and comment contacts.
How is American Bitcoin pursuing its BTC reserve strategy?
American Bitcoin is quietly accumulating Bitcoin, forming an internal BTC reserve. The company has also purchased mining equipment and is looking to acquire a business in Asia to increase reserves.
The strategy of both accumulating assets and investing in infrastructure helps diversify BTC flow sources. Expanding into Asia can leverage energy conditions, infrastructure, and equipment supply chains while distributing operational risk by region.
Source: Cointelegraph reports on the strategy of accumulating BTC and M&A plans in Asia.
Why is the cryptocurrency IPO wave accelerating in 2025?
2025 sees many cryptocurrency companies going public: Circle IPO in June with a 167% increase on the first day, Bullish IPO in August reaching a maximum of 218% in the first session. Bitwise forecasts that 2025 will be the year of cryptocurrency IPOs.
Gemini has filed a standard IPO form with the SEC, and Kraken is also rumored to be considering it. The IPO momentum coincides with policy shifts in the United States, creating a legal framework and more transparency expectations, thereby improving valuations and liquidity for industry businesses.
Source: Cointelegraph aggregated; Bitwise forecast, 12/2024.
How do new U.S. policies affect the market and IPOs?
On March 6, U.S. President Donald Trump signed an order establishing a national Bitcoin reserve and digital asset reserves. On July 18, he signed the GENIUS Act, a law regulating stablecoins and issuing units.
These two policy signals indicate a direction towards recognizing and managing digital assets, thus reducing legal ambiguity. The market often reacts positively when businesses can plan finances, control compliance, and have a clearer listing roadmap.
Source: Cointelegraph reports on policy developments in March and July 2025.
Quick comparison table: Day one volatility for notable IPOs in 2025
The large IPO deals in 2025 indicate that market risk appetite is improving, supporting valuations of cryptocurrency infrastructure businesses.
Company IPO Timing Day One Volatility Circle 06/2025 +167% Bullish 08/2025 Maximum increase +218%
Frequently Asked Questions
When will American Bitcoin shares start trading after the merger?
According to Reuters, trading is expected to begin in early September 2025, after completing the merger with Gryphon.
What does an all-stock deal mean?
An all-stock deal is a merger in which the acquiring entity pays with shares instead of cash. Shareholders of the merged entity receive shares of the new entity.
Who will hold 98% of the shares of the entity after the merger?
Eric Trump, Donald Trump Jr., and Hut 8 will collectively own 98% of American Bitcoin's shares after the merger, according to Reuters.
Why did Gryphon's shares rise sharply before the deal?
The market reflects expectations of synergy and new valuation. According to Google Finance, shares rose 42.1% on the day to $1.75 and increased 231% since May.
What is American Bitcoin doing to increase its BTC reserves?
The company accumulates BTC as a reserve, purchases mining equipment, and seeks to acquire a business in Asia to expand its BTC source.
Source: https://tintucbitcoin.com/gryphon-tang-231-truoc-sap-nhap-american-bitcoin/
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