Gryphon Digital Mining is ready to merge with Trump-linked American Bitcoin in September, with its shares already up 231% because the Might announcement.
Gryphon’s shares jumped 42.1% on Thursday to $1.75 from $1.35, based on Google Finance. The rally got here as American Bitcoin’s largest investor, Hut 8 CEO Asher Genoot, advised Reuters the merger between American Bitcoin and Gryphon is anticipated to be finalized quickly, with buying and selling set to start in early September.
In accordance with the Reuters report, the merger can be all-stock. The brand new entity will retain the title American Bitcoin, and its two founders — Eric Trump and Donald Trump, Jr. — and Hut 8 will personal 98% of the entity.
Anchor buyers have been finalized. Two buyers in American Bitcoin are Cameron and Tyler Winklevoss, the co-founders of cryptocurrency change Gemini. Cointelegraph reached out to American Bitcoin for remark, however had not acquired a reply at time of publication.
American Bitcoin has been quietly accumulating Bitcoin (BTC), forming a de facto BTC treasury. It has additionally bought Bitcoin mining tools and is seeking to purchase an organization in Asia to develop its BTC reserves.
Associated: Trump-linked American Bitcoin raises $220M for mining, treasury
Coverage tone shift prompts IPOs
American Bitcoin goes public as extra crypto corporations comply with the identical path. Circle went public in June 2025, and its inventory rose 167% on the day of its debut. Cryptocurrency change Bullish went public in August, and its inventory jumped as excessive as 218% on its debut.
In December 2024, crypto asset administration firm Bitwise predicted that 2025 could be the yr of the crypto preliminary public providing. Different corporations rumored to be getting ready for an preliminary public providing are Gemini, which has filed an IPO preparatory kind with the US Securities and Alternate Fee, and cryptocurrency change Kraken.
The wave of crypto corporations going or getting ready to go public in the USA has coincided with a turnaround in digital asset coverage within the nation. On March 6, US President Donald Trump signed an government order making a nationwide strategic Bitcoin reserve and digital asset stockpile. On July 18, he signed the GENIUS Act, which regulates stablecoins and their issuers, into legislation.
Journal: Trump’s crypto ventures elevate battle of curiosity, insider buying and selling questions