Mining
Trump
Trump Family
The Las Vegas-based Bitcoin miner announced Friday that its shareholders voted in favor of the merger earlier in the week.
Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
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Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...
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Last updated:
August 30, 2025
Gryphon Digital Mining has secured shareholder approval to merge with American Bitcoin, a mining firm connected to the Trump family, in a stock-for-stock deal that sets the stage for a rebrand and new Nasdaq listing.
Key Takeaways:
Gryphon shareholders approved a merger with Trump-linked American Bitcoin, including a 5-to-1 reverse stock split.
The combined company will rebrand as American Bitcoin and begin trading under the ticker “ABTC” on Sept. 2.
The move gives American Bitcoin fast-track public market access.
The Las Vegas-based Bitcoin miner announced Friday that its shareholders voted in favor of the merger earlier in the week.
A reverse five-to-one stock split will be completed by 5:00 pm ET on Sept. 2, after which the combined company will trade under the name American Bitcoin with the ticker symbol “ABTC.”
Gryphon Shareholders Approve 5-to-1 Reverse Split Ahead of Merger.
The split will reduce Gryphon’s outstanding shares from 82.8 million to approximately 16.6 million.
Originally revealed in May, the deal allows American Bitcoin, launched by Donald Trump Jr. and Eric Trump earlier this year, to enter public markets without a separate IPO, using Gryphon’s Nasdaq listing as a vehicle.
The Trump-backed company emerged from a rebrand of American Data Center and is affiliated with mining infrastructure provider Hut 8.
American Bitcoin has positioned itself as a pure-play mining venture focused on Bitcoin accumulation.
It has disclosed 215 BTC in holdings, though third-party data from BitcoinTreasuries.NET suggests its reserves could approach 1,941 BTC.
Shares of Gryphon fell more than 10% on Friday, giving back part of Thursday’s 41% rally that followed initial reports of the merger.
The deal is seen as combining Gryphon’s low-cost mining operations with American Bitcoin’s aggressive treasury strategy to create a more competitive presence in the public mining space.
The merger reflects a broader trend of public firms ramping up their Bitcoin exposure.
Collectively, listed companies now hold nearly 990,000 BTC, led by Strategy’s dominant 631,000 BTC position.
American Bitcoin has been exploring acquisitions in Hong Kong and Japan to expand its footprint, the Financial Times reported earlier this month.
American Bitcoin’s interest in Asia taps into markets with deep retail trading culture and growing regulatory openness toward crypto.
Hong Kong has positioned itself as a digital asset hub, and Japanese-listed vehicles could provide a regulated path for institutional and retail investors to participate.
Trump Family Expands Crypto Ties.
The venture is one of several crypto-linked businesses tied to the Trump family.
In June, Donald Trump disclosed $57 million in income from World Liberty Financial, a crypto platform that recently announced a $1.5 billion token buyback in partnership with Las Vegas-based blockchain firm ALT5 Sigma.
Separately, Trump Media & Technology Group, which operates Truth...
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