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Gryphon Digital Soars 330.77% on Merger News
Generated by AI AgentAinvest Movers Radar
Monday, May 12, 2025 7:17 am ET1min read
On May 12, 2025, Gryphon Digital's stock surged by 330.77% in pre-market trading, marking a significant milestone for the company.
Gryphon Digital Mining has announced a merger with American Bitcoin, a strategic move that is expected to provide Gryphon stockholders with equity in a public vehicle. The merger aims to build the world's largest and most efficient pure-play Bitcoin mining company. Upon completion,
, Inc. will be renamed American Bitcoin Corp.The merger is structured as a stock-for-stock transaction, where current Gryphon stockholders will own approximately 2% of the combined company, while American Bitcoin stockholders will own approximately 98%. This transaction is part of a broader strategy to enhance shareholder value and create a more robust and efficient mining operation.
Gryphon Digital Mining has also recently announced a non-brokered $2.85 million offering with 100% management and majority board participation. This funding round is expected to support the company's growth initiatives and operational expansion.
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