Bitcoin mining merger debuts Trump-linked ABTC on Nasdaq
Gryphon Digital Mining (GRYP) and Hut 8’s subsidiary have approved a merger to form American Bitcoin (ABTC). This Bitcoin mining merger was ratified by shareholders alongside a 5-for-1 reverse stock split to meet Nasdaq’s listing requirements. Subject to regulatory clearance, the deal will reduce outstanding shares from 82.8 million to about 16.6 million and debut on Nasdaq on September 2, 2025 under ticker ABTC. Post-merger ownership will split 80% to Hut 8 and 20% to American Data Centers, backed by Eric and Donald Trump Jr. The combined group will leverage Gryphon’s low-cost mining infrastructure and American Bitcoin’s BTC accumulation strategy. Disclosed holdings stand at 215 BTC, with external estimates even higher. GRYP shares fell over 10% to $1.54 on heavy volume after the initial announcement. Traders should monitor regulatory filings, the reverse stock split execution, and future BTC treasury updates ahead of the Nasdaq listing.
Bullish
The merger and 5-for-1 reverse stock split to form American Bitcoin (ABTC) strengthen Bitcoin mining capacity and on-chain accumulation. In the short term, market focus on regulatory approvals and the share consolidation may cause volatility in GRYP equity but creates a clearer path to Nasdaq listing. Long term, leveraging Gryphon’s low-cost infrastructure and a growing BTC treasury outlook enhances fundamentals, likely boosting demand for BTC and supporting bullish sentiment.