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Gryphon Digital Mining has obtained shareholder consent to merge with American Bitcoin, a mining company associated with the Trump family, in a stock-for-stock transaction that paves the way for a rebranding and a new listing on Nasdaq.
Key Takeaways:
- Gryphon shareholders have approved a merger with Trump-affiliated American Bitcoin, which includes a 5-to-1 reverse stock split.
- The newly formed entity will adopt the name American Bitcoin and commence trading under the ticker “ABTC” on Sept. 2.
- This action provides American Bitcoin with expedited access to public markets.
The Bitcoin miner based in Las Vegas announced on Friday that its shareholders voted in favor of the merger earlier in the week.
A reverse five-to-one stock split will be executed by 5:00 pm ET on Sept. 2, after which the merged company will operate under the name American Bitcoin with the ticker symbol “ABTC.”
Gryphon Shareholders Approve 5-to-1 Reverse Split Ahead of Merger
The split will decrease Gryphon’s outstanding shares from 82.8 million to around 16.6 million.
The Trump-associated company emerged from a rebranding of American Data Center and is linked with mining infrastructure provider Hut 8.
American Bitcoin has established itself as a dedicated mining enterprise focused on Bitcoin accumulation.
It has reported 215 BTC in holdings, although third-party data from BitcoinTreasuries.NET indicates its reserves could be as high as 1,941 BTC.
Gryphon Digital Mining $GRYP will merge with American Bitcoin $ABTC, co-founded by Eric Trump, Donald Trump Jr., and @Hut8Corp. With Gryphon’s stock up over 200% since the merger announcement, investors are asking: is this a golden opportunity?
00:00 Intro to Gryphon-American… pic.twitter.com/Y8M1ryvGMe— Hayden Otto (@Hayden_Otto) August 29, 2025
Shares of Gryphon dropped by more than 10% on Friday, reversing part of Thursday’s 41% surge that followed initial merger reports.
The agreement is perceived as merging Gryphon’s cost-effective mining operations with American Bitcoin’s assertive treasury strategy to establish a more competitive position in the public mining sector.
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The merger illustrates a wider trend of public companies increasing their Bitcoin exposure.
In total, listed firms now possess nearly 990,000 BTC, with Strategy holding a dominant 631,000 BTC position.
American Bitcoin has been investigating acquisition opportunities in Hong Kong and Japan to broaden its presence, as reported by the Financial Times earlier this month.
American Bitcoin’s interest in Asia targets markets with a robust retail trading culture and increasing regulatory acceptance of cryptocurrency.
Hong Kong has established itself as a digital asset center, and Japanese-listed entities could offer a regulated avenue for institutional and retail investors to engage.
Trump Family Expands Crypto Ties
This venture is among several crypto-related enterprises linked to the Trump family.
In June, Donald Trump revealed $57 million in earnings from World Liberty Financial, a crypto platform that recently announced a $1.5 billion token buyback in collaboration with the Las Vegas-based blockchain firm ALT5 Sigma.
Additionally, Trump Media & Technology Group, which runs Truth Social, intends to raise $2.5 billion to create its own Bitcoin treasury.
Simultaneously, the Trump administration promoted its pro-crypto agenda through various policy and regulatory initiatives.
President Trump signed an executive order encouraging regulators to eliminate obstacles that hinder 401(k) plans from incorporating alternative assets such as cryptocurrencies.
If enacted, these reforms could enable millions of Americans to allocate retirement funds to Bitcoin and other digital assets through regulated channels.
Trump also nominated economist Stephen Miran, a proponent of digital assets, to the Federal Reserve Board of Governors, indicating a continuation of his administration’s pro-crypto position.
The post Gryphon Digital Mining to Merge with Trump-Linked American Bitcoin appeared first on Cryptonews.
