Catenaa, Saturday, August 16, 2025- Shareholders of Gryphon Digital Mining (GRYP) have begun voting on a proposed merger with American Bitcoin Corp., a crypto mining firm co-founded by Eric Trump and backed by Donald Trump Jr., with the combined entity expected to debut on the Nasdaq under the ticker “ABTC” by September.
The deal would merge Gryphon with American Bitcoin, a subsidiary of publicly traded miner Hut 8 (HUT), forming a politically connected mining venture aimed at amassing a strategic bitcoin reserve.
The firm, launched in March, has raised $220 million via a private share placement to fund bitcoin purchases and acquire mining equipment.
Hut 8 holds an 80% stake in American Bitcoin, while American Data Centers, an entity backed by the Trump sons, owns the remaining 20%. Eric Trump serves as chief strategy officer of the venture.
If approved, the merger would allow American Bitcoin to go public via an all-stock transaction, with existing shareholders, including Hut 8 and the Trump family, retaining roughly 98% ownership of the new company.
Gryphon shares fell 3% in Wednesday’s trading session following the announcement, while Hut 8 stock remained steady, according to The Block’s market data. The merger is expected to close in early September, contingent on shareholder approval.
