- Gryphon Digital Mining (GRYP, Financial) announces merger with American Bitcoin Corp, aiming to become the world's largest Bitcoin miner.
- Post-merger, Gryphon shareholders will own approximately 2% of the new entity, with American Bitcoin shareholders holding 98%.
- The transaction is anticipated to complete by Q3 2025, pending stockholder approval, with the combined company trading under Nasdaq ticker "ABTC".
Gryphon Digital Mining, Inc. (GRYP), a Nasdaq-listed Bitcoin mining company, has declared a definitive merger agreement with American Bitcoin Corp. The stock-for-stock deal will see American Bitcoin absorbed, resulting in Gryphon's rebranding under the American Bitcoin name and continuing its trade on Nasdaq as "ABTC".
American Bitcoin, which was launched by Hut 8 Corp. (HUT) in collaboration with Eric Trump, strives to establish itself as the world's premier pure-play Bitcoin miner while cultivating a substantial strategic Bitcoin reserve.
Upon completion of the merger, which is scheduled for as early as the third quarter of 2025 contingent on stockholder approval and other conditions, existing Gryphon shareholders will own a modest 2% equity in the new enterprise. Meanwhile, American Bitcoin shareholders will control 98% of the combined entity.
Gryphon CEO Steve Gutterman expressed enthusiasm for the merger, highlighting the access it provides shareholders to an expansive and ambitious Bitcoin mining operation now supported by significant institutional investment from Hut 8.
