Catenaa, Wednesday, September 03, 2025- Shareholders of Gryphon Digital Mining have approved a merger with a Hut 8 subsidiary to form the Trump-connected American Bitcoin company, the firm announced Friday.
The stock-for-stock deal will consolidate Gryphon’s outstanding shares through a 5-for-1 reverse split to meet Nasdaq’s minimum bid price requirements.
The reverse split, effective Tuesday, September 2, will not change the company’s market capitalization or shareholder interests.
Following the corporate action, the new stock will trade under the ticker ABTC on Nasdaq as part of the American Bitcoin brand.
Both Eric and Donald Trump Jr. hold stakes in the joint venture, with Eric Trump serving as chief strategy officer.
Hut 8, a publicly traded mining company, will control approximately 80% of the merged entity, while the remaining 20% will be held by American Data Centers, an entity backed by the Trump sons.
The merged firm plans to accumulate a strategic Bitcoin reserve, primarily through its mining operations. It has raised \$220 million through a private placement to acquire Bitcoin and mining equipment. Gryphon shares were down 11.56% on the day of the announcement, while Hut 8 rose 0.53%, according to The Block Price Page.
The merger highlights growing institutional involvement in cryptocurrency mining and the continuing expansion of high-profile, politically linked ventures in the sector.
