Prnewswireยท2025-05-12 10:30Core Viewpoint - American Bitcoin Corp. has entered into a definitive merger agreement with Gryphon Digital Mining, Inc. to become a publicly traded entity focused on Bitcoin accumulation at scale [1] Company Overview - American Bitcoin is a majority-owned subsidiary of Hut 8, dedicated to industrial-scale Bitcoin mining and strategic Bitcoin reserve development [4] - The company aims to create a low-cost Bitcoin accumulation platform, leveraging Hut 8's mining operations and Eric Trump's expertise in capital markets [4] Transaction Details - The merger will be a stock-for-stock transaction, with the combined company expected to trade on Nasdaq under the ticker symbol "ABTC" [1][7] - The anticipated closing timeline for the transaction is targeted for Q3 2025 [7] - Post-transaction, existing stockholders of American Bitcoin are expected to own approximately 98% of the combined company [7] Management and Governance - The combined company will be led by the management and board of directors of American Bitcoin, including key figures such as Eric Trump and Asher Genoot [1][7]