American Bitcoin Merges with Gryphon to Lead Mining Industry

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American Bitcoin, a company with ties to the Trump family, is joining forces with Gryphon Digital Mining to create one of the largest Bitcoin mining conglomerates. On Monday, May 12, the two companies announced a definitive stock-for-stock merger agreement, marking a significant expansion of American Bitcoin’s mining operations.

While Gryphon is technically the acquiring party, the deal gives American Bitcoin’s shareholders a dominant position, with 98% of the new company’s shares. Gryphon shareholders will retain just 2%. The merged entity will operate under the American Bitcoin brand, reflecting the Trump family’s deep involvement in the company’s leadership.

The new company will be led by the American Bitcoin team, with CEO Mike Ho at the helm, alongside key figures Matt Prusak and Eric Trump. The board of directors will also reflect American Bitcoin’s influence, consisting of Ho, Asher Genoot, Justin Mateen, and Michael Broukhim.

Following the merger, which is set to close in the third quarter of 2025, American Bitcoin plans to become the largest pure-play Bitcoin mining firm. The company also intends to pursue a Nasdaq listing under the ticker symbol ABTC, signaling its ambitions to be a major player in the industry.

American Bitcoin was originally launched on March 31 as a partnership between Eric Trump, Donald Trump Jr., and the Hut 8 mining firm. Hut 8 contributed 61,000 mining rigs and 11 U.S. data centers in exchange for 80% ownership, while Eric Trump and Donald Trump Jr. held the remaining 20%, along with their other crypto ventures.

The Trump family's growing involvement in the cryptocurrency industry, through ventures like American Bitcoin and World Liberty Financial, has attracted both attention and controversy. Critics have raised concerns about potential conflicts of interest, especially with President Donald Trump’s role in shaping crypto regulations. Despite the criticism, the merger with Gryphon signals a new era for American Bitcoin as it seeks to dominate the Bitcoin mining sector.

The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
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