American Bitcoin, the unit owned by most HUT 8 supported by the Trump family, will go public through a griphon digital mining (GRYP) integration.
The shares of Hut 8 Corp. (HUT) jumps 12% on pre-market trading, while GRYPHON Digital Mining (GRYP) has climbed more than 200%, Following the news.
American Data Center, owned by Eric Trump and Donald Trump Jr, Combined their firm with American Bitcoin In March. Trump’s brothers owned 20% of American Bitcoin, while Hut 8 holds 80% remaining.
The stock-for-stock transaction will result in GRYPHON acquisition of American Bitcoin, along with the combined company that adopted the name of American Bitcoin and trading in Nasdaq under the ticker “ABTC.”
Integration is expected to close in advance of Q3 2025. American Bitcoin will maintain the current leadership and board, along with CEO Mike Ho, and will remain focused on scaling low-cost accumulation of Bitcoin (BTC).
“This transaction marked the next step in scaling American Bitcoin as a vehicle developed in the goal for accumulation of cheap bitcoin on the scale,” said Asher Genoot, CEO of Hut 8. “By obtaining the American Bitcoin American, we hope to unlock direct access to dedicated capital of growth independent sheets of Hut 8.”
After the integration, the existing shareholders of American Bitcoin are expected to own nearly 98% of the new company. HUT 8 will maintain the ownership of the majority and will serve as an exclusive infrastructure and operational partners.
