American Bitcoin to Go Public Through Merger with Gryphon Digital Mining

The merger is expected to close as early as Q3 2025, subject to customary approvals. Post-merger, the combined entity will operate under the American Bitcoin brand and trade on Nasdaq under the ticker “ABTC.”

American Bitcoin, a newly formed Bitcoin mining entity backed by Bitcoin miner Hut 8 (TSX: HUT) and Trump-led American Data Centers, will be going public via a stock-for-stock merger with Nasdaq-listed Gryphon Digital Mining (NASDAQ: GDMN), according to an announcement from Hut 8 on Monday.

The merger is expected to close as early as Q3 2025, pending customary approvals. Upon completion, the combined entity will operate under the American Bitcoin brand and be listed on Nasdaq under the ticker “ABTC.”

This move is designed to accelerate American Bitcoin’s scale and positioning as a low-cost vehicle for Bitcoin accumulation and infrastructure development in the US. Through this merger, Hut 8 aims to unlock new growth capital independently of its own balance sheet while maintaining exposure to the long-term upside in the Bitcoin market.

“This transaction marks the next step in scaling American Bitcoin as a purpose-built vehicle for low-cost Bitcoin accumulation at scale,” said Asher Genoot, CEO of Hut 8.

“By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet, while preserving long-term exposure to Bitcoin upside for our shareholders.”

The merged company will be led by American Bitcoin’s existing board of directors, including Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim, with Eric Trump joining the management team.

Existing American Bitcoin stockholders are expected to retain approximately 98% ownership of the combined company. Hut 8 will maintain a majority stake in the combined company’s issued and outstanding capital stock after the merger.

Hut 8 will continue in a long-term role as American Bitcoin’s exclusive infrastructure and operations partner. This relationship, secured through extended commercial agreements, is expected to generate steady revenue for Hut 8’s Power and Digital Infrastructure divisions.

Hut 8 announced the formation of American Bitcoin in late March through a strategic, cashless merger with American Data Centers (ADC), an AI infrastructure firm founded by Dominari Holdings in collaboration with Eric Trump and Donald Trump Jr.

As part of the agreement, Hut 8 retains an 80% ownership stake, while the Trump-affiliated ADC holds the remaining 20%.