Gryphon & American Bitcoin Merge to Form Nasdaq's ABTC
Gryphon Digital Mining and American Bitcoin Corp. have agreed to merge, aiming to create a leading Bitcoin mining firm. The deal is expected to close in Q3 2025, with the new company trading on Nasdaq under the ticker symbol 'ABTC'.
The combined company, led by Asher Genoot as Executive Chairman, plans to become the world's most efficient Bitcoin miner. It will achieve this through a strategic reserve strategy and low-cost energy infrastructure.
Upon completion, Gryphon shareholders will hold approximately 2% of the merged entity, with American Bitcoin stakeholders owning the remaining 98%. The merger is subject to various approvals, including Gryphon stockholder consent, and is targeted to finalize in Q3 2025.
American Bitcoin, launched earlier this year by Hut 8 Corp. in partnership with Eric Trump, focuses on large-scale mining and Bitcoin reserve accumulation. The merger will allow the new company to leverage Gryphon's mining innovation alongside American Bitcoin's capital and strategic reserve ambitions, solidifying its position in the North American Bitcoin mining industry.
The merger between Gryphon Digital Mining and American Bitcoin Corp. is set to create a significant player in North American Bitcoin mining. The new company, ABTC, aims to close the deal in Q3 2025, with a strategic focus on efficiency and reserve strategy, positioning it to lead the global Bitcoin mining scene.
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