Michaela
American Bitcoin has officially gone public following a stock-for-stock merger with Gryphon Digital Mining, uniting the two crypto mining firms under the American Bitcoin name. The combined entity will be overseen by American Bitcoin’s board of directors, which includes Eric Trump.
According to an official announcement, the board of directors for the newly merged company will include Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim, with Mike Ho and Matt Prusak also joining the executive team. The combined entity is expected to trade on Nasdaq under the ticker symbol “ABTC”.
“This transaction marks the next step in scaling American Bitcoin as a purpose-built vehicle for low-cost Bitcoin accumulation at scale,” Genoot stated, CEO of Bitcoin mining company Hut 8 Corp. “By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet, while preserving long-term exposure to Bitcoin upside for our shareholders,” he added.
The transaction is expected to close as early as Q3 2025. Upon completion, current shareholders of American Bitcoin are anticipated to hold approximately 98% of the newly formed company. The company will maintain majority ownership of the combined entity’s outstanding capital stock.
Furthermore, Hut 8 will remain the exclusive infrastructure and operations partner for American Bitcoin, overseeing its infrastructure and operations through ongoing long-term commercial agreements.
As the merger between American Bitcoin and Gryphon Digital Mining progresses, the evolving landscape of cryptocurrency mining continues to attract both traditional and innovative investors.
The strategic partnership between Hut 8 and American Bitcoin sets the stage for a dynamic future in the mining industry, combining experienced operational management with cutting-edge infrastructure.
By leveraging Hut 8’s proven capabilities and scaling efforts, American Bitcoin is poised to solidify its position as a leader in low-cost, large-scale Bitcoin mining.
As the combined entity prepares for its Nasdaq debut, the future of digital asset mining looks set for further evolution and growth.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
