Gryphon Digital Mining Surges 20% in Pre-Market Trading, American Bitcoin Plans Nasdaq Listing through SPAC Merger

Gryphon Digital Mining surged over 20% in pre-market trading. American Bitcoin, backed by the Trump family, is planning to go public through a SPAC merger and aims to be listed on Nasdaq in September under the stock symbol ABTC.

Gryphon Digital Mining, a bitcoin mining company, saw its stock price surge by 20% in pre-market trading on July 2, 2025. The stock, which trades under the NASDAQ symbol GRYP, closed at $1.40 after reaching an intraday high of $1.42. This increase came amidst a notable rise in trading volume, up by 34% from its average daily volume [1].

The company, based in Las Vegas, Nevada, operates mining computers and ESG-led mining. Its market capitalization stands at $115.92 million, with a projected earnings per share (EPS) of -0.76 for the current fiscal year. Analysts have maintained a "Hold" rating on the stock, with one analyst rating it as such [1].

Meanwhile, American Bitcoin, backed by U.S. President Donald Trump's two sons, is planning to go public through a SPAC merger. The company aims to list on the Nasdaq under the stock symbol ABTC in early September. The merger with Gryphon Digital Mining is set to be finalized shortly, with the newly formed entity retaining the name American Bitcoin. The co-founder, Eric Trump, along with his brother Donald Trump Jr., will own a combined 98% of the new entity [2].

The move is part of American Bitcoin's strategy to expand its global business and provide access to publicly listed bitcoin assets. The company is exploring opportunities in Hong Kong and Japan to buy crypto assets and build out its operations [2].

The market response to these developments has been mixed. While Gryphon Digital Mining's stock price has seen a significant increase, American Bitcoin's plans to go public have been met with both optimism and caution. The crypto market's volatility and potential governance concerns have raised questions about the long-term viability of the projects [2, 3].

References:
[1] https://www.marketbeat.com/instant-alerts/gryphon-digital-mining-nasdaqgryp-stock-price-up-94-heres-why-2025-08-26/
[2] https://www.reuters.com/world/asia-pacific/american-bitcoin-backed-by-trumps-sons-aims-start-trading-september-2025-08-28/
[3] https://www.ainvest.com/news/trump-media-crypto-merge-6-42-billion-cro-treasury-spac-2508/