American Bitcoin Corp and Gryphon Digital Mining are nearing completion of their merger

According to PANews, American Bitcoin Corp (ABC), a Bitcoin mining company backed by the Trump family, is about to finalize the merger process with Gryphon Digital Mining. This process will lead to the listing of the merged entity on Nasdaq. On July 31, Gryphon submitted a proxy statement to the U.S. Securities and Exchange Commission (SEC), setting August 27 as the date for shareholders to vote on the proposed merger. The SEC also announced the effectiveness of the S-4 registration statement, a crucial regulatory approval that facilitates the transaction.

The merger was initially announced in May of this year, with ABC identifying the merger with Gryphon, a Bitcoin mining company listed on Nasdaq under the ticker "GRYP." In preparation for this transaction, ABC raised $220 million through private equity last month.