Trump Family Backs Bitcoin: US IPO Via Gryphon Merger

Trump Family Backs Bitcoin: US IPO Via Merger With Gryphon Digital!

12 May 2025 at 18: 43

Reading time: 2 minutes

American Bitcoin, the majority-owned Hut 8 company backed by the Trump family, is going public via a merger with Gryphon Digital Mining (GRYP). The news has had a significant impact, with shares of Hut 8 Corp. (HUT) surging as much as 12% in pre-market trading, while Gryphon Digital Mining soared more than 200%.

In March, American Data Center, led by Eric Trump and Donald Trump Jr., merged with American Bitcoin. The Trump brothers own 20% of American Bitcoin, while Hut 8 holds the remaining 80%. The share swap will allow Gryphon to acquire American Bitcoin, with the new company known as American Bitcoin and trading on the Nasdaq under the ticker symbol “ABTC.”

The merger is expected to be effective in the third quarter of 2025. American Bitcoin will retain its current leadership and board of directors, including CEO Mike Ho, and will continue to focus on mining bitcoin at scale (BTC) at low cost.

This is a critical step in scaling American Bitcoin as a purpose-built entity for low-cost, mass-scale Bitcoin accumulation. By taking American Bitcoin public, we can gain direct access to growth capital that is independent of Hut 8’s balance sheet. Following the merger, current American Bitcoin shareholders are expected to own approximately 98% of the new company. Hut 8 will retain the majority stake and serve as the exclusive infrastructure and operations partner.

Frequently Asked Questions

What does the merger mean for American Bitcoin?
The merger will allow American Bitcoin to operate as a standalone publicly traded company, facilitating access to growth capital and enabling them to scale further.

What percentage of American Bitcoin remains in Hut 8's hands?
Hut 8 will retain a majority stake, meaning they will continue to play an important role in American Bitcoin's strategy and operations.

When is the merger expected to complete?
The merger is expected to close in the third quarter of 2025, promising an exciting period for the companies involved.

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