Gryphon Digital Mining, Inc. has officially received the green light from its stockholders for a merger with American Bitcoin, a company with ties to the Trump family. The agreement, finalized on August 27, 2025, represents a major step forward for both organizations, paving the way for the combined company to be listed on the Nasdaq under the ticker symbol “ABTC” after a reverse stock split. This split, scheduled for September 2, 2025, will consolidate shares at a ratio of 5-for-1, reducing the total outstanding shares from approximately 82.8 million to 16.6 million, not including new shares issued as part of the merger [1].
Gryphon Digital Mining, a publicly traded Bitcoin mining firm headquartered in Las Vegas, Nevada, is merging with American Bitcoin, which operates as a subsidiary of Hut 8 Corp. The newly formed company intends to utilize Gryphon’s existing Nasdaq listing, thereby avoiding the traditional and often lengthy initial public offering (IPO) process [2]. This strategic move reflects a growing trend in the financial markets, where companies are increasingly pursuing aggressive strategies to build up their Bitcoin holdings. American Bitcoin is positioning itself as a “pure-play” Bitcoin mining enterprise [2].
The reverse stock split is a calculated move to satisfy Nasdaq’s minimum share price requirements, ensuring the company meets listing standards while maintaining the overall market capitalization and the proportion of ownership for stockholders. This adjustment will automatically apply to shares that can be issued through the exercise or conversion of existing equity awards and warrants, with proportional adjustments made according to the terms of those awards [1]. The reverse stock split is expected to be a seamless transition for registered stockholders, who will automatically receive the adjusted shares without needing to take any action. Shareholders who hold their shares through brokerage accounts or other nominee entities will also see automatic adjustments [1].
After the merger, the combined entity will operate under the name “American Bitcoin,” capitalizing on Hut 8’s expertise in mining operations and infrastructure development, along with the business knowledge and capital market experience of Eric Trump. The merger aims to create a more scalable and investor-friendly platform by combining Gryphon’s efficient, low-cost mining infrastructure with American Bitcoin’s strategy of aggressively accumulating Bitcoin [2]. This strategic alliance is projected to boost the operational efficiency and financial stability of the new company, aligning it with prevailing industry trends in Bitcoin treasury management [2].
The stock market has reacted to the news, with Gryphon’s stock experiencing a decline of over 10% on Friday following the announcement. This drop partially offset the 41% rally from the previous day, highlighting the inherent volatility and investor sentiment surrounding the merger. Despite these short-term fluctuations, the long-term outlook for the merger is generally viewed as positive, especially for investors seeking exposure to the Bitcoin mining industry [2]. The strategic synergy between Gryphon and American Bitcoin underscores a growing trend among publicly traded companies to consolidate resources and expertise in order to achieve scalable and sustainable growth within the Bitcoin mining sector [1].
The merger and the subsequent reverse stock split demonstrate a wider industry movement towards strategic partnerships and structured financing solutions aimed at optimizing Bitcoin treasury management. As companies like American Bitcoin and Gryphon continue to refine their operations and increase their Bitcoin reserves, the competitive dynamics of the Bitcoin mining industry are expected to evolve, driven by innovation and operational efficiency [1]. The successful approval of the merger by Gryphon’s stockholders marks a significant milestone for the newly combined entity, setting the stage for a Nasdaq debut and positioning it for potential long-term expansion in the cryptocurrency market.
Source: [1] Gryphon Digital Mining, Inc. (ir.gryphondigitalmining.com) [2] Cointelegraph (cointelegraph.com)