Trump-linked miner American Bitcoin goes public via merger with Gryphon
Date: 2025-05-13 Author: Oliver Abernathy Categories: BUSINESS
American Bitcoin, a company linked to the family of US President Donald Trump, has announced that it is going public via a merger with Gryphon Digital Mining. The deal will be implemented through a stock swap scheme, after which the combined entity will continue to operate under the American Bitcoin brand.
As a result of the merger, control of the company will pass to the current shareholders of American Bitcoin, who will receive about 98% of the shares of the new entity. Management will remain with Hut 8, which will provide infrastructure and operational processes under long-term contracts.
American Bitcoin was founded by investors including Donald Trump Jr. and Eric Trump. The latter also joined the board of directors of the new company. Previously, this project was called American Data Center, and the official renaming took place in March after Hut 8 bought a controlling stake.
Since the merger was announced, Gryphon Digital Mining shares have skyrocketed in value. Since May 9, they have risen from $0.52 to $2.15, an increase of more than 313%, according to Google Finance. This surge in interest may be due to both the Trump family's involvement and increased investor confidence in the prospects of Bitcoin mining.
Earlier, in April, there were reports that American Bitcoin was considering a standalone IPO. However, the current deal, according to Hut 8 CEO Asher Ginut, opens up access to targeted growth capital without putting pressure on Hut 8's balance sheet. In addition, shareholders will retain the potential to profit from the rise in the value of Bitcoin.
The company has stated its ambitions to become the largest and most efficient Bitcoin miner in the world, focusing on large-scale and low-cost accumulation of BTC. It also plans to form a strategic reserve in cryptocurrency, making it part of a global trend among crypto companies.
Thus, going public through a merger with Gryphon Digital Mining could be a key step in the development of American Bitcoin and strengthen its position amid growing interest in mining and digital assets.
