Gryphon Digital Plunges 10.94% on Merger News

On May 14, 2025, Gryphon Digital's stock price experienced a significant drop of 10.94% in pre-market trading.

Gryphon Digital Mining, Inc. has announced a definitive stock-for-stock merger deal with American Bitcoin, a majority-owned subsidiary of Hut 8. This merger is expected to create a combined entity operating under the American Bitcoin brand, which will trade on the Nasdaq under the ticker "ABTC." The involvement of Eric and Donald Trump Jr. in American Bitcoin suggests that the new company's activities will likely extend beyond solely mining Bitcoin, potentially including AI hosting and other emerging opportunities.

Hut 8 Corp., under the leadership of CEO Asher Genoot, has been focusing on operational streamlining and realignment. Analysts expect the company to maximize the value of its Bitcoin miner power portfolio and existing assets while pursuing new opportunities in AI hosting. The merger with Gryphon Digital is seen as a strategic move to enhance the combined entity's capabilities and market position.