American Bitcoin, Gryphon Merge; Trump Family Leads

American Bitcoin, a crypto mining firm backed by Eric Trump and Donald Trump Jr. and majority-owned by Hut 8, plans to go public on Nasdaq through a stock-for-stock merger with Gryphon Digital Mining, targeting completion by Q3 2025. Gryphon will serve as the vehicle for the public debut, while the combined entity will operate under the American Bitcoin brand and trade as 'ABTC.' American Bitcoin shareholders will retain about 98% ownership in the post-merger company, and Eric Trump will remain chief strategy officer. Gryphon’s shares surged over 300% after the merger announcement, and Bitcoin prices and trading volumes also increased, reflecting a bullish market response. The new entity aims to be a leading U.S. Bitcoin reserve builder with a capital-light, cost-efficient model, highlighting the Trump family's expanding role in crypto amid regulatory scrutiny and political debate. Hut 8 will maintain its majority stake and continue as a key infrastructure partner through long-term agreements.