Shareholders of Gryphon Digital Mining have begun casting votes on a high-profile merger with American Bitcoin Corp., a crypto mining firm with shut ties to former President Donald Trump’s household.
If authorized, the all-stock deal is anticipated to shut in early September 2025, paving the best way for a newly merged mining powerhouse.
The brand new entity will commerce on the Nasdaq beneath the ticker ABTC.
Trump-Backed Mining Enterprise Positive factors Momentum
American Bitcoin Corp. was launched in March 2025 as a three way partnership between publicly traded mining agency Hut 8 (NASDAQ: HUT) and members of the Trump household. The corporate is majority-owned by Hut 8 (80%), whereas the remaining 20% is held by American Knowledge Facilities, a bunch backed by Eric Trump and Donald Trump Jr.
The agency has already raised $220 million by a non-public share placement to fund Bitcoin acquisitions and mining infrastructure. Its strategic focus is to build up and maintain Bitcoin reserves, positioning itself as each a mining operator and long-term asset holder.
Shareholder Approval Key to Public Itemizing
The merger plan entails Gryphon folding into American Bitcoin, with present shareholders—together with Eric Trump, Donald Trump Jr., and Hut 8—retaining roughly 98% possession of the newly listed firm.
Eric Trump presently serves as Chief Technique Officer, additional signaling the Trump household’s direct involvement within the enterprise’s long-term roadmap.
The result of the shareholder vote will decide whether or not the merger proceeds as deliberate, doubtlessly establishing American Bitcoin as a serious, Trump-affiliated participant within the U.S. crypto mining panorama.