Bitcoin mining firm Gryphon Digital Mining to merge with American Bitcoin Corp.

Bitcoin mining firm Gryphon Digital Mining has announced a definitive agreement to merge with American Bitcoin Corp. in a stock-for-stock transaction

Bitcoin mining firm Gryphon Digital Mining (NYSE: GRYP) has announced a definitive agreement to merge with American Bitcoin Corp. in a stock-for-stock transaction.

The companies disclosed in a joint statement on Monday that they have entered into a combination agreement, which will see American Bitcoin become a new public company and a fully disclosed company listed on Nasdaq following the completion of the merger.

The transaction, which is expected to close in the third quarter of 2025, will be structured as a merger of Equals, with American Bitcoin shareholders expected to own approximately 98% of the combined company, and Gryphon shareholders to own about 2%. The new company’s common stock is anticipated to trade on Nasdaq under the ticker symbol “ABTC.”

The combined company will aim to become the most efficient Bitcoin (BTC) mining firm in the world, leveraging American Bitcoin’s strategic reserve strategy and Gryphon’s low-cost energy infrastructure and integration capabilities. It will also capitalize on both companies’ strong brands and reputations within the industry.

“The Gryphon team is pleased to offer our stockholders the opportunity to participate in what we believe will be the next era of public Bitcoin mining through this combination,” said Steve Gutterman, CEO of Gryphon. “American Bitcoin brings together an outstanding leadership team and a clear strategy to build a premier institution in this fast-evolving industry.”

American Bitcoin was launched earlier this year by Hut 8 Corp. (NASDAQ:HUT) (TSX:HUT) (OTC: HUT8) in partnership with Eric Trump, son of former President Donald Trump, to be a cornerstone of American Bitcoin infrastructure development. The company will focus on large-scale Bitcoin mining and accumulating Bitcoin reserves at scale.

“Taking American Bitcoin public is a critical step toward scaling the business at the pace and magnitude we envision,” said Asher Genoot, Board Member of American Bitcoin and CEO of Hut 8. “Time-to-market was a critical factor, and this transaction enables an efficient path to public markets by combining with an entity that is structurally aligned with American Bitcoin’s mining-focused launch strategy.”

The merger is still subject to approval by both Gryphon stockholders and American Bitcoin, and the parties involved are actively working towards obtaining the necessary permits and approvals for the transaction.

“We are excited to be a part of the American Bitcoin story and to join Asher and the team that we believe will define the future of public Bitcoin investment,” added Gutterman.

Once completed, the merger will see Gryphon’s Bitcoin mining innovation and technology capabilities combine with American Bitcoin’s capital and strategic reserve ambitions. This integration is expected to position the new company as a significant player in the North American Bitcoin mining industry.

Earlier this year, reports emerged that Gryphon was in talks with several companies for a potential merger. The company, which had previously announced plans to go private, was said to be exploring a combination with a special purpose acquisition company (SPAC).

Gryphon Digital Mining is a cryptocurrency mining firm with a focus on Bitcoin. The company owns and operates large-scale mining facilities in the United States, and it is also developing new and efficient mining technologies. American Bitcoin Corp. is a new company that is being launched by Hut 8 Corp. and Eric Trump to invest in and build out Bitcoin infrastructure in the United States. The company will focus on large-scale mining and accumulating Bitcoin reserves at scale.

The merger of Gryphon Digital Mining and American Bitcoin Corp. is a significant development in the cryptocurrency industry. The combined company will be a major force in the North American Bitcoin mining market. It will also be a key player in the growing institutional interest in Bitcoin.