Trump Family-Backed American Bitcoin to List on the Stock Market via Gryphon Digital Merger

American Bitcoin, the Hut 8 majority-owned subsidiary supported by the Trump family, will go public by merging with Gryphon Digital Mining (GRYP), sparking significant market movement.

Hut 8 Corp. (HUT) shares jumped 12% in pre-market trading, while Gryphon Digital Mining (GRYP) soared more than 200% following the announcement of the deal.

The merger comes after the Trump brothers, Eric and Donald Trump Jr., merged their company, American Data Center, with American Bitcoin in March. The Trump family holds a 20% stake in the firm, while Hut 8 controls 80%. Eric Trump will also headline at Consensus 2025.

The transaction is structured as a stock-for-stock deal, with Gryphon acquiring American Bitcoin. The combined company will operate under the American Bitcoin name and trade on Nasdaq as “ABTC.” The merger is expected to close by Q3 2025, with American Bitcoin retaining its current leadership and board, including CEO Mike Ho.

“This transaction is key to scaling American Bitcoin’s low-cost Bitcoin accumulation model,” said Asher Genoot, CEO of Hut 8. “Going public will provide dedicated growth capital for American Bitcoin independent of Hut 8.”

After the merger, American Bitcoin’s current shareholders will hold about 98% of the new company. Hut 8 will remain the majority shareholder and exclusive partner for infrastructure and operations.

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