- American Bitcoin completed its merger with Gryphon Digital Mining and will debut on NASDAQ next month under the ticker ABTC.
- The Trump family and Hut 8 Corp own 98% of the new company.
American Bitcoin has merged with Gryphon Digital Mining Inc., marking a significant milestone in the Trump family’s cryptocurrency ventures. The merged company, American Bitcoin, will be trading under the ticker name of “ABTC” and the deal will likely close as early as the third quarter of 2025. The new company will trade on NASDAQ in the next month.
Gryphon stockholders voted to support the merger in a special meeting. The transaction was unanimously supported by the company’s board of directors. The stock-for-stock deal will cause Gryphon to purchase American Bitcoin, and the merged company will be named American Bitcoin and will be listed on Nasdaq as ABTC.
The new venture is a partnership between Eric Trump, Donald Trump Jr., and the Canadian mining firm Hut 8 Corp. American Bitcoin, the president’s two eldest sons, who are already stockholders in the company, will control approximately 98% of the new company. This type of ownership places the Trump family and Hut 8 in a great position of influence on the strategic direction of the company.
Strategic Focus on Bitcoin Accumulation
American Bitcoin has established itself as a Bitcoin accumulation and mining company. The firm intends to compete against the existing giants in the cryptocurrency mining industry. The approach of American Bitcoin is to build a large reserve of Bitcoin, a gesture that is not out of step with wider trends in the cryptocurrency arena.
Eric Trump set lofty targets for the company at the Consensus 2025 conference. He said he would become the largest corporate Bitcoin holder and surpass Strategy. As detailed in our last news piece, Strategy recently acquired 3,081 BTC. The company has a treasury of 632,457 Bitcoin coins, currently valued at about $68.2 billion.
American Bitcoin started accumulating its reserves and has already accumulated 215 Bitcoins, worth about $23 million per SEC filings.
The firm claims that its accumulation efforts remain ongoing. The core business strategy, according to the management, is the accumulation of Bitcoin rather than a secondary activity. The firm intends to keep on increasing capital to increase its Bitcoin assets and remain cost-efficient in mining.
Hut 8 brings substantial cryptocurrency experience to the partnership. The Canadian company currently has a bitcoin asset totaling about 10,667 Bitcoins, worth about $1.15 billion. This current Bitcoin base enhances the position of American Bitcoin as it embarks on its accumulation plan.
Corporate Restructuring and Market Positioning
There are major corporate restructuring measures that the merger entails. By September 2025, Gryphon will carry out a 5-for-1 reverse stock split. Such a move will trim down the outstanding shares, which are around 82.8 million, to 16.6 million shares. The purpose of the reverse split is to ease the trading and listing process of the ABTC ticker.
Gryphon stockholders who are being held by the brokerage firm will not be required to act after the stock split. The restructuring does not have any effect on uncertificated shareholders as well. Certain instructions given by Continental Stock Transfer & Trust Company, however, have to be adhered to by the certificated shareholders to complete the transition.
In another development, Metaplanet, a Tokyo-based bitcoin treasury company, has increased its holdings by purchasing 103 BTC worth $11.6 million.
