Bitcoin mining company Gryphon Digital Mining has announced a confirmed agreement to merge with American Bitcoin Corp. to form a new public company under the name of US Bitcoin through stock trading. The transaction is expected to close in the third quarter and will result in a savage shareholder holding approximately 2% of the combined entity, with the remaining 98% owned by U.S. Bitcoin stakeholders.
The merged company said it aims to be the world’s most effective Bitcoin mining company, based on strategic reserve strategies and low-cost energy infrastructure. After the end, the new company is expected to trade Nasdaq under the Nasdaq stock “ABTC”.
“The Lionry team is pleased to offer our shareholders the opportunity to participate in the era of public Bitcoin mining that we believe will be a prominent leadership team and develop a clear strategy for building senior institutions in this fast-growing industry.”
US Bitcoin was launched in collaboration with Hut 8 Corp. (NASDAQ: HUT) and Eric Trump, positioning itself as the cornerstone of the development of US Bitcoin infrastructure. Its focus is on large-scale mining and accumulating Bitcoin reserves.
“Making the public of US Bitcoin is a critical step towards the speed and scale we envisioned. “Time to market is a key factor, and this transaction is a key factor that can be combined with the structure of US Bitcoin to enable the public market to effectively lead to the public market.”
The merger is subject to various approvals, including Gripen shareholder consent, and the company expects the process to end in the third quarter of 2025.
“We are excited to be part of the US Bitcoin story and join Asher and the team we believe will define the future of public Bitcoin investment,” Gutterman added.
After finalization, the new company will continue to leverage Gryphon’s mining innovations with US Bitcoin’s capital and strategic reserve ambitions, and will use the combined company as a prominent player in the North American Bitcoin mining industry.
