Hut 8 Soars 13.03% on American Bitcoin's Go-Public Move

Mover TrackerMonday, May 12, 2025 7:29 am ET

1min read

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On May 12, 2025, Hut 8's stock surged by 13.03% in pre-market trading, marking a significant rise in investor interest and confidence in the company's future prospects.

Hut 8's subsidiary, American Bitcoin, has announced a go-public transaction. This strategic move is designed to enhance American Bitcoin's access to capital markets and accelerate its growth trajectory. The transaction involves a merger with Gryphon Digital Mining, which is already listed on the NASDAQ. This approach provides American Bitcoin with a faster path to public markets compared to a traditional IPO.

American Bitcoin, a majority-owned subsidiary of Hut 8, focuses exclusively on industrial-scale Bitcoin mining and strategic Bitcoin reserve development. By taking American Bitcoin public, Hut 8 aims to unlock direct access to dedicated growth capital independent of its own balance sheet, while preserving long-term strategic alignment between the two entities.

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