Business
American Bitcoin Announces Go-Public Transaction through Strategic Merger with Nasdaq-Listed Entity
Positions American Bitcoin to become a publicly traded vehicle for low-cost Bitcoin accumulation at scale MIAMI, May 12, 2025 /PRNewswire/ -- American Bitcoin
About this update from Hut 8 Corp.
[{"type":"text","content":"Positions American Bitcoin to become a publicly traded vehicle for low-cost Bitcoin accumulation at scale\nMIAMI, May 12, 2025 /PRNewswire/ -- American Bitcoin Corp. (\"American Bitcoin\" or the \"Company\"), a Bitcoin accumulation platform focused on building America's Bitcoin infrastructure backbone, today announced that it has entered into a definitive merger agreement with Gryphon Digital Mining, Inc. (Nasdaq: GRYP) (\"Gryphon\") pursuant to which Gryphon will acquire American Bitcoin in a stock-for-stock merger transaction. Upon closing, the combined company will operate under the American Bitcoin brand, led by the management and board of directors of American Bitcoin. The combined company is expected to trade on Nasdaq under the ticker symbol \"ABTC.\"\n\n \n \n \n \n \n \n\n \n\"Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market,\" said Eric Trump, Co-founder and Chief Strategy Officer of American Bitcoin. \"Today's announcement marks an important milestone in that journey, bringing us closer to offering every investor access to a purpose-built platform engineered for scale and long-term value creation in what we believe is one of the most important asset classes of our time.\" \n\"Taking American Bitcoin public is a critical step toward scaling the business at the pace and magnitude we envision,\" said Asher Genoot, Board Member of American Bitcoin and CEO of Hut 8. \"Time-to-market was a critical factor, and this transaction enables an efficient path to public markets by combining with an entity that is structurally aligned with American Bitcoin's mining-focused launch strategy.\"\nHut 8 Corp. (Nasdaq, TSX: HUT) (\"Hut 8\") launched American Bitcoin earlier this year in partnership with Eric Trump, with the goal of building the world's largest, most efficient pure-play Bitcoin miner alongside a robust strategic Bitcoin reserve. American Bitcoin is purpose-built to enable Bitcoin accumulation at scale through low-cost Bitcoin mining and other complementary strategies.\nKey Terms\nForm of Consideration: 100% stock-for-stock transaction.Anticipated Closing Timeline: Targeting closing as early as Q3 2025.Post-Transaction Ownership: Existing stockholders of American Bitcoin are expected to own approximately 98% of the combined company.Governance and Management: Combin...