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Trump-Backed American Bitcoin to Go Public Through Merger With Gryphon Digital Mining

The all-stock transaction will form a Nasdaq-listed entity, ABTC, focused on low-cost bitcoin accumulation, with the deal expected to close by Q3 2025.

U.S. President Donald Trump's sons Donald Trump Jr. (L) and Eric Trump sit in the audience waiting to watch their father announce his nominee for the empty associate justice seat at the U.S. Supreme Court, at the White House in Washington, D.C., U.S. January 31, 2017. REUTERS/Carlos Barria/File Photo
Donald Trump, center, pictured with sons Eric Trump, left, and Donald Trump Jr. (Alex Wong/Getty Images)
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Overview

  • American Bitcoin, co-founded by Eric Trump and Donald Trump Jr., will merge with Gryphon Digital Mining in an all-stock deal.
  • The combined entity will trade on Nasdaq under the ticker 'ABTC' and focus on scaling low-cost bitcoin accumulation.
  • Existing shareholders, including Hut 8 (80% owner) and the Trump family (20% owner), will retain 98% ownership of the new company.
  • Gryphon shares surged over 200% and Hut 8 shares rose 13% in premarket trading following the announcement.
  • The merger, which keeps the current leadership and board intact, is expected to close as early as Q3 2025.