Listed bitcoin mining firm Gryphon said it had entered into a merger agreement with American Bitcoin (ABTC), the mining firm where President Trump’s sons are key shareholders. American Bitcoin shareholders are expected to own 98% of the stock when the transaction completes in the third quarter, and the listed firm will be known as American Bitcoin. Eric Trump is Chief Strategy Officer.
Six weeks ago American Data Centers, in which Eric Trump, Donald Trump Jr and listed Dominari Holdings are shareholders, entered into an agreement with Hut 8 to create American Bitcoin. Hut 8 contributed the mining equipment.
“Taking American Bitcoin public is a critical step toward scaling the business at the pace and magnitude we envision,” said Asher Genoot, Board Member of American Bitcoin and CEO of Hut 8. “Time-to-market was a critical factor, and this transaction enables an efficient path to public markets by combining with an entity that is structurally aligned with American Bitcoin’s mining-focused launch strategy.”
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