{"id":129080,"date":"2025-05-12T14:15:35","date_gmt":"2025-05-12T14:15:35","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129080"},"modified":"2025-05-12T14:15:35","modified_gmt":"2025-05-12T14:15:35","slug":"trump-linked-miner-american-bitcoin-going-public-via-gryphon-merger","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129080","title":{"rendered":"Trump-linked miner American Bitcoin going public via Gryphon merger"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin mining firm American Bitcoin is going public through a merger with crypto mining firm Gryphon Digital Mining, the companies announced on May 12.<br \/>\nUnder the terms of the deal, Gryphon Digital Mining will acquire American Bitcoin in a stock-for-stock transaction. After the merger, the new company will operate under the American Bitcoin brand and be led by its board of directors, which includes Eric Trump, son of US President Donald Trump. News of the merger coincided with a sharp rise in Graphon Digital Mining\u2019s stock price, which climbed from $0.52 on May 9 to $2.15 at the time of writing, a gain of more than 313%, according to Google Finance.<br \/>\nThe announcement follows early April reports that American Bitcoin was considering an initial public offering (IPO).<br \/>\nGryphon Digital Mining share price. Source: Google FinanceAmerican Bitcoin is a majority-owned subsidiary of energy infrastructure, crypto mining, and data center firm Hut 8. Hut 8 CEO Asher Genoot said the company aims to make American Bitcoin \u201ca purpose-built vehicle for low-cost Bitcoin accumulation at scale.\u201d He added:<br \/>\n\u201cBy taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8\u2019s balance sheet, while preserving long-term exposure to Bitcoin upside for our shareholders.\u201d<br \/>\nRelated: Top Bitcoin miners produced nearly $800M of BTC in Q1 2025<br \/>\nShareholders and post-merger structure<br \/>\nAccording to the announcement, existing American Bitcoin shareholders will own roughly 98% of the newly formed company. Following the transaction, the new company will control most of the outstanding stock.<br \/>\nHut 8 will continue to manage American Bitcoin\u2019s infrastructure and operations through long-term commercial agreements. Those deals are expected, according to the announcement, to generate stable, contracted revenue streams for Hut 8\u2019s power and digital infrastructure segments.<br \/>\nRelated: Bitcoin miner Hut 8 grows hashrate 79% despite $134M quarterly loss<br \/>\nWhat is American Bitcoin?<br \/>\nHut 8 acquired a majority stake in American Bitcoin when it was unveiled at the end of March, with backing from\u00a0several members of Trump&#8217;s family. The company, formerly known as American Data Center, was founded by a group of investors, including Trump\u2019s sons, Donald Trump Jr. and Eric Trump.<br \/>\nFollowing the deal, American Bitcoin took ownership of Hut 8\u2019s Bitcoin mining hardware. The announcement at the time explained that the new firm \u201caims to become the world\u2019s largest, most efficient pure-play Bitcoin miner while building a robust strategic Bitcoin reserve.\u201d<br \/>\nMagazine: Bitcoiners are \u2018all in\u2019 on Trump since Bitcoin \u201924, but it\u2019s getting risky<a href=\"https:\/\/cointelegraph.com\/news\/american-bitcoin-gryphon-merger-public-listing-hut8-trump?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin mining firm American Bitcoin is going public through a merger with crypto mining firm Gryphon Digital Mining, the companies announced on May 12. Under the terms of&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129080"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129080"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129080\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129080"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}