Trump-Backed American Bitcoin to Merge with Gryphon, Aims for Public Listing

American Bitcoin, a mining firm backed by the Trump family, is set to merge with gryphon digital Mining. This strategic move aims to enhance the company's Bitcoin mining capabilities and facilitate a public listing. The merger is expected to close in the third quarter of 2025, though specific details about Gryphon’s contributions to the deal remain unclear.

The Trump brothers, Eric and Don Jr., have been actively involved in diversified crypto ventures, including investments in Bitcoin mining, meme coins, and GameFi. Eric Trump will join American Bitcoin’s management team, while the leadership of the merged firm will consist entirely of American Bitcoin’s leaders, excluding gryphon Digital Mining. The new company will retain the American Bitcoin name and trade under the abtc stock ticker.

Despite challenges in the mining sector, the involvement of hut 8, which owns 80% of American Bitcoin’s current shares, may bring new growth opportunities. Hut 8’s CEO, Asher Genoot, highlighted the potential benefits of the merger, stating that it would unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet. However, Hut 8 has recently faced significant financial losses, with a net loss of $134 million in Q1 2025, despite substantial investment and technical upgrades.

The merger announcement has sparked skepticism within the crypto community, with many questions remaining about the new company and its mining operations. The Trump family’s brand and the potential for new investors could benefit the firm, but clarity on the contributions and operational details of the merger is essential as it nears completion.

As American Bitcoin prepares for its upcoming merger with Gryphon, the crypto community is closely watching for further developments. This merger could redefine the company's strategic path in the competitive Bitcoin mining landscape, but uncertainties surrounding contributions and operational details remain. The future will likely reveal how effectively American Bitcoin capitalizes on brand power and investor interest as it ventures into public markets.

Ask Aime: "Will the Trump-backed Bitcoin merger bring new growth to American Bitcoin?"