Gryphon Digital Mining’s investors have given the green light to its
merger with American
Bitcoin. This approval includes a 5-for-1 reverse stock split. The reverse
split is scheduled for September 2, 2025, at 5:00 PM ET. It will
consolidate the number of shares outstanding from roughly 82.8 million to
16.6 million, without altering the company’s total market valuation.
This maneuver is aimed at meeting Nasdaq’s minimum price per share
requirement, crucial for maintaining the company’s listing status [1].
Once the merger is finalized, the newly named entity will be traded on
Nasdaq under the ticker “ABTC,” operating under the “American Bitcoin”
name. Investors will not receive cash for fractional shares resulting from
the split; instead, these will be rounded up to the nearest whole share,
potentially offering a minor advantage to shareholders. The reverse split
will proportionally adjust outstanding equity awards and warrants [1].
The transition is designed to be smooth for investors. Shareholders using
brokerage accounts will see automatic adjustments to their holdings.
Registered shareholders will receive instructions from Continental Stock
Transfer & Trust Company. No shareholder action is needed to implement
the change [1]. This merger is part of a growing trend in the Bitcoin
mining sector, where companies are merging to achieve greater economies of
scale and improved efficiency. This strategic step positions the newly
formed company to compete more effectively in a market increasingly
dominated by larger, well-capitalized players [1].
American Bitcoin, which is majority-owned by
Hut 8
Corp., brings significant Bitcoin mining capacity to the partnership. The
new company will capitalize on Hut 8’s established mining operations and
infrastructure expertise, along with the business insight of Eric Trump,
an important figure in American Bitcoin’s leadership. The “American
Bitcoin” rebranding underscores a strategic focus on U.S.-based operations
amid escalating regulatory concerns about international mining operations
[1].
The merger and reverse split are structured to adhere to regulatory
standards and minimize investor impact. Gryphon’s Board of Directors
formally approved the 5-for-1 reverse split ratio on August 22, 2025,
following shareholder approval at a special meeting held on May 24, 2025
[1]. This transaction marks a significant shift in the company’s identity
and strategic direction, transitioning it from
Gryphon Digital
Mining into a more consolidated and operationally strong Bitcoin mining
entity under the American Bitcoin brand [1].
Source: [1]
Gryphon
Digital Mining, Inc. (url1)
