Could Trump-Backed American Bitcoin Be the Next Nasdaq Giant? Gryphon Merger Vote on August 27 Could Change Everything!
Ever wonder what happens when the Trump family puts its weight behind a Bitcoin mining company aiming to go public? Well, American Bitcoin Corporation (ABC) is about to find out, as it edges closer to a Nasdaq debut via a merger with Gryphon Digital Mining. With shareholders set to vote on August 27 and the SEC giving a green light to key regulatory filings, this move isn’t just a shuffle in the crypto space—it’s a bold leap into mainstream markets, blending political heft with blockchain ambition. ABC’s strategy to ramp up its mining capacity while maintaining a firm grip on operational control through partners like Hut 8 signals a determined play for scale and efficiency in a fiercely competitive environment. So, what does the fusion of politics, high-efficiency mining, and public market aspirations look like in 2025? Let’s unpack it. LEARN MORE
Shareholders to decide on ABC and Gryphon Digital Mining merger as regulatory approval clears the way for expansion into public markets.
Key Takeaways
- American Bitcoin Corporation, backed by the Trump family, is set for a Nasdaq listing through a merger with Gryphon Digital Mining.
- Shareholder vote on the merger is scheduled for August 27, following SEC regulatory clearance.
Share this article
American Bitcoin Corporation (ABC), a Bitcoin mining firm backed by the Trump family and Hut 8, is one step closer to going public. Nasdaq-listed Gryphon Digital Mining has scheduled a shareholder vote on its proposed stock merger with ABC for August 27, SEC records show.
The SEC’s approval of the Form S-4 registration statement has provided essential regulatory clearance for the transaction. The latest developments were first reported by TheMinerMag.
The merger, initially revealed in May, will see the new entity operate under the American Bitcoin brand and trade on the Nasdaq under the ticker ‘ABTC’. Through the move, American Bitcoin targets enhanced capacity for low-cost Bitcoin accumulation and infrastructure growth in the US.
The company currently controls approximately 10.17 EH/s of Bitcoin hashrate, with a weighted average fleet efficiency of 21.2 J/TH as of May 30, according to the prospectus. It aims to reach 25 EH/s of hashrate capacity, including the option to acquire 15 EH/s of hosted capacity from Hut 8 for Bitmain machines.
Post-merger, American Bitcoin stockholders will hold about 98% ownership, with Hut 8 maintaining a majority stake and continuing as the exclusive infrastructure and operations partner.
American Bitcoin owns 215 BTC valued at approximately $24 million, according to a June disclosure.
Share this article
Post Comment