Stock-for-Stock Deal Will Create Publicly Traded Entity Led by Trump Family-Backed Board
American Bitcoin, a crypto mining firm backed by members of former President Donald Trump’s family, is set to go public through a merger with Gryphon Digital Mining, the companies announced on May 12.
Gryphon Digital Mining Announces Merger with American Bitcoin. Read the press release here: https://t.co/vtsk5yIzLJ $GRYP @AmericanBTC pic.twitter.com/Xg6JyUJ0tU
— Gryphon Digital Mining (@GryphonMining) May 12, 2025
The deal will see Gryphon acquire American Bitcoin in a stock-for-stock transaction, with the combined entity operating under the American Bitcoin brand moving forward. The company will be led by American Bitcoin’s board, which includes Eric Trump, son of the former president.
Following the news, Gryphon’s share price surged over 313%, jumping from $0.52 on May 9 to $2.15, according to Google Finance.
Post-Merger Structure: Trump-Backed Miner Takes the Lead
Under the merger terms:
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American Bitcoin shareholders will own approximately 98% of the new company.
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Gryphon’s existing shareholders will retain only a small stake post-merger.
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The merged company will operate as American Bitcoin, not Gryphon.
Hut 8, a publicly traded crypto mining and energy infrastructure firm, holds a majority stake in American Bitcoin and will continue to manage infrastructure and operations under long-term commercial agreements. These deals are expected to generate stable revenue for Hut 8’s power and digital infrastructure segments.
“By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet,” said Hut 8 CEO Asher Genoot.
“This preserves long-term exposure to Bitcoin upside for our shareholders.”
American Bitcoin: A Pure-Play Miner With Trump Ties
American Bitcoin was officially unveiled in March 2025 after Hut 8 acquired a controlling interest in what was formerly American Data Center. The company is backed by prominent Trump family members, including Donald Trump Jr. and Eric Trump.
The venture took ownership of Hut 8’s Bitcoin mining hardware and positioned itself as a “purpose-built vehicle for low-cost Bitcoin accumulation at scale.”
Its mission, according to the company’s earlier statements, is to become the “world’s largest, most efficient pure-play Bitcoin miner” while building a strategic Bitcoin reserve.
Final Thoughts: Trump-Tied Crypto Venture Eyes Wall Street Debut
The merger marks the latest development in a growing wave of crypto firms with political connections seeking to go public amid renewed investor interest in Bitcoin infrastructure.
As American Bitcoin prepares for its debut as a publicly traded company, it will join a growing number of Bitcoin-native firms pursuing aggressive treasury strategies, following in the footsteps of companies like Strategy (formerly MicroStrategy).
The Trump family’s involvement adds a unique political dimension to the firm’s trajectory — one that could further entrench Bitcoin as a mainstream, institutional-grade asset in the years ahead.
