Hut 8 & Gryphon Merge to Form American Bitcoin Corp., Aiming for Global Bitcoin Mining Efficiency
Hut 8 Corp. and Gryphon Digital Mining have agreed to merge, creating American Bitcoin Corp. The new company aims to be the world's most efficient Bitcoin mining firm, trading on Nasdaq under the symbol 'ABTC'.
The merger, expected to close by Q3 2025, will see Gryphon shareholders own approximately 2% of the new company, with the remaining 98% held by American Bitcoin stakeholders. American Bitcoin was launched earlier this year by Hut 8 Corp. in partnership with Eric Trump, focusing on large-scale mining and Bitcoin reserve accumulation.
Upon completion, the new company will leverage Gryphon's mining innovation and American Bitcoin's capital and strategic Bitcoin reserve ambitions. It will operate under the name American Bitcoin Corp., aiming for rapid Bitcoin growth using mining operations and market opportunities. The merged company will play a strategic role by providing energy and digital infrastructure to support Bitcoin mining and expansion.
The merger, contingent on various approvals including Gryphon stockholder consent, will position the new company as a notable player in the North American Bitcoin mining industry. By combining Gryphon's mining innovation with American Bitcoin's capital and strategic Bitcoin reserve ambitions, the new company aims to become the most efficient Bitcoin mining firm globally, bolstered by a strategic Bitcoin reserve strategy and low-cost energy infrastructure.
