Hut 8 Subsidiary American Bitcoin Announces Go-Public Transaction

Core Viewpoint - Hut 8 Corp. announced a merger agreement for its subsidiary American Bitcoin to go public with Gryphon Digital Mining, aiming to enhance capital markets access and growth potential [1][3]. Company Overview - Hut 8 Corp. operates as an energy infrastructure platform focused on Bitcoin mining and high-performance computing, managing 1,020 megawatts of energy capacity across 15 sites in the U.S. and Canada [7]. - American Bitcoin is a majority-owned subsidiary of Hut 8, dedicated to building Bitcoin infrastructure and leveraging Hut 8's mining operations and capital allocation strategies [8]. Transaction Details - The merger will result in the combined entity operating under the American Bitcoin brand, with a board led by Mike Ho and a management team that includes Eric Trump [2]. - Upon completion, existing stockholders of American Bitcoin will own approximately 98% of the combined company, which is expected to trade on Nasdaq under the ticker symbol "ABTC" [3][2]. - The transaction is anticipated to close as early as Q3 2025 [2]. Strategic Implications - The merger is positioned as a strategic move to scale American Bitcoin as a vehicle for low-cost Bitcoin accumulation, providing direct access to growth capital independent of Hut 8's balance sheet [3]. - Hut 8 will continue to serve as the exclusive infrastructure and operations partner for American Bitcoin, ensuring stable revenue streams through long-term commercial agreements [4].