Key Takeaways:
- Gryphon Digital Mining’s stock surged 231% since May amid its merger with American Bitcoin, set to finalize in early September.
- The merged entity, controlled 98% by stakeholders including Eric and Donald Trump Jr., has backing from the Winklevoss twins.
- The merger aligns with a broader trend of crypto IPOs and policy shifts, including a national Bitcoin reserve and new stablecoin regulations.
Gryphon Digital Mining has seen its stock soar 231% since May, fueled by anticipation of its upcoming merger with American Bitcoin, slated for early September.
On Thursday alone, Gryphon shares surged 42.1%, jumping from $1.35 to $1.75 after Hut 8 CEO Asher Genoot said the all-stock deal is close to completion.
⚡️ NEW: American Bitcoin, backed by Eric Trump, Donald Trump Jr, and Hut 8, is set to go public on Nasdaq via merger with Gryphon Digital Mining.
— Satoshi Club (@esatoshiclub) August 28, 2025
The new entity will trade under ABTC in early September, with Trump brothers and Hut 8 owning 98%. pic.twitter.com/MJLSQX05N3
The merged entity will operate under the American Bitcoin name and be controlled primarily by Eric Trump and Donald Trump Jr., along with Hut 8, who together will hold a commanding 98% ownership stake.
High-profile backers, including Gemini co-founders Cameron and Tyler Winklevoss, have also committed as anchor investors.
American Bitcoin has been actively accumulating BTC reserves, expanding its mining infrastructure, and exploring an Asian acquisition to grow its reach.
The merger comes during a surge in crypto firms pursuing public listings. Circle debuted in June with a 167% first-day rally, while Bullish followed in August with gains of up to 218%.
With Gemini and Kraken preparing for IPOs, this trend coincides with President Donald Trump’s national Bitcoin reserve order and the July passage of the GENIUS Act, ushering in a new era of U.S. crypto regulation.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
Check Adam out on: