American Bitcoin, a majority-owned subsidiary of Hut 8 and related to the Trump household, is about to grow to be a publicly traded entity via a merger with Gryphon Digital Mining.
The stock-for-stock transaction will end in American Bitcoin taking up Gryphon’s public itemizing. The mixed firm is anticipated to commerce on Nasdaq beneath the ticker “ABTC” as early because the third quarter of 2025.
The deal construction permits American Bitcoin shareholders to retain roughly 98 % of the post-merger firm, in response to a press release issued by Hut 8.
Hut 8, which already controls a majority stake in American Bitcoin, will proceed to carry a useful possession curiosity whereas shifting operational focus towards offering infrastructure companies via long-term agreements. Gryphon, a micro-cap Bitcoin miner at the moment listed on Nasdaq, will function the company car for American Bitcoin’s public debut.
The brand new entity’s board of administrators will encompass Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim, with Ho, Matt Prusak, and Eric Trump making up its government group.
Eric Trump, who has prominently promoted American Bitcoin’s imaginative and prescient, stays on as chief technique officer. The corporate goals to place itself as a nationwide Bitcoin reserve builder and brand-forward miner with a capital-light operational mannequin.
Donald Trump Jr. can also be concerned with the corporate, because it was born from American Information Facilities Inc., based by the 2 sons of President Donald Trump. The unique launch assertion reads,
“American Bitcoin follows the strategic contribution of considerably all of Hut 8’s ASIC miners to and in alternate for a majority curiosity in American Information Facilities, Inc., an organization shaped by a gaggle of buyers together with Eric Trump and Donald Trump Jr.
In reference to the transaction, American Information Facilities, Inc. was subsequently renamed and relaunched as American Bitcoin.”
A Bitcoin reserve firm
Based on supplies circulated by the corporate, the purpose is to build up Bitcoin effectively beneath market price and amplify publicity via treasury holdings slightly than focus solely on hashrate metrics.
Per American Bitcoin’s presentation, the merger is designed to unlock entry to capital markets unbiased of Hut 8’s stability sheet, doubtlessly giving the entity a extra direct path to strategic financing.
The mixed firm’s mannequin focuses on low-cost Bitcoin acquisition and long-term retention. It operates via Hut 8’s infrastructure pipeline, which spans over 1,020 megawatts of managed vitality capability and a further 10,800 megawatts in its growth portfolio.
Eric Trump’s continued presence within the crypto sector follows latest exercise selling the TRUMP meme coin, part-owning the blockchain monetary companies agency World Liberty Monetary, and WLFI’s USD1 launch.
Market response
Gryphon’s share worth greater than tripled to $2.55 following the deal’s announcement, whereas Hut 8 inventory rose 11% to $15.45.
The market response suggests investor urge for food for Bitcoin-centric public automobiles stays elevated throughout present worth circumstances. As of late April, Bitcoin has been buying and selling simply above $104,000, close to its all-time excessive, creating a pretty backdrop for corporations searching for to go public with a Bitcoin-forward narrative.
Hut 8, which merged with US Bitcoin Corp in late 2023, lately reported 9.3 EH/s in self-mining hashrate for Q1 2025, up 79% quarter-over-quarter, with its strategic reserve totaling over 10,200 BTC on the finish of March. The corporate additionally posted a internet lack of $134 million for the quarter, emphasizing the necessity for different financing constructions past its current stability sheet.
The reverse merger avoids the complexities and timing challenges of a conventional IPO, enabling American Bitcoin to enter the general public markets whereas sustaining operational and strategic management.
Gryphon’s continued Nasdaq eligibility, in addition to stockholder and regulatory approvals, stay circumstances for the merger’s closure.
If accomplished, American Bitcoin will grow to be the most recent in a wave of mining companies utilizing monetary engineering to align their treasury methods with public capital market entry.
