American Bitcoin, Hut 8’s majority-owned unit backed by the Trump household, will go public through a merger with Gryphon Digital Mining (GRYP).
Shares of Hut 8 Corp. (HUT) jumped 12% in pre-market buying and selling, whereas Gryphon Digital Mining (GRYP) soared greater than 200%, following the news.
American Knowledge Heart, which was owned by Eric Trump and Donald Trump Jr, merged their firm with American Bitcoin in March. The Trump brothers personal 20% of American Bitcoin, whereas Hut 8 holds the remaining 80%.
The stock-for-stock transaction will end in Gryphon buying American Bitcoin, with the mixed firm adopting the American Bitcoin title and buying and selling on Nasdaq beneath the ticker “ABTC.”
The merger is predicted to shut as early as Q3 2025. American Bitcoin will retain its present management and board, together with CEO Mike Ho, and stay targeted on scaling low-cost bitcoin (BTC) accumulation.
“This transaction marks the following step in scaling American Bitcoin as a purpose-built automobile for low-cost Bitcoin accumulation at scale,” mentioned Asher Genoot, CEO of Hut 8. “By taking American Bitcoin public, we count on to unlock direct entry to devoted progress capital unbiased of Hut 8’s stability sheet.”
After the merger, current shareholders of American Bitcoin are anticipated to personal roughly 98% of the brand new firm. Hut 8 will preserve majority possession and function the unique infrastructure and operations accomplice.