The American mining company American Bitcoin Corp., controlled by Hut 8 Corp. and partly to the sons of Donald Trump, entered into a merger agreement with Gryphon Digital Mining in order to enter the Nasdaq stock exchange. This is reported in the Hut 8 press release.
The financial terms of the deal were not disclosed. The combined company will operate under the American Bitcoin brand and be traded on Nasdaq.
The completion of the share exchange transaction is expected in the third quarter of 2025, subject to approval from shareholders and regulatory authorities.
After the deal closes, American Bitcoin shareholders will own 98% of the combined company's shares, while Gryphon shareholders will own the remaining 2%.
American Bitcoin was created in March 2025 as part of a strategic partnership between Hut 8 and American Data Centers Inc., whose investors are the sons of the American president, Eric Trump and Donald Trump Jr. The company is focused exclusively on bitcoin mining and the strategic growth of bitcoin reserves.
Gryphon shares rose sharply by 460% to $2.93, while Hut 8 shares rose 17% to $16.31 per share on the back of the company's merger announcement.
Bitcoin mining has become a multibillion-dollar industry amid the cryptocurrency boom in recent years and a complete ban on such operations in China. American miners have faced a negative political reaction due to high energy consumption and the negative environmental impact of local communities. Bitcoin miners are supporters of Donald Trump, who promised to support mining and expand his presence in the crypto industry market.
Gryphon Digital Mining is an American mining company in the cryptocurrency sector. The company uses renewable energy sources to power mining operations, focusing on efficiency and environmental protection. The company is headquartered in Las Vegas, Nevada.
American Bitcoin is a mining company that creates and manages data centers for the Bitcoin network. The company provides bitcoin mining services and provides access to cryptocurrency mining services. The headquarters is located in Miami (Florida).
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