American Bitcoin to Go Public via Merger with Gryphon Digital Mining

NEW YORK, NY — American Bitcoin, a cryptocurrency company co-founded by Eric Trump, announced on Monday, May 12, 2025, that it will merge with Gryphon Digital Mining to go public on the Nasdaq. This all-stock deal enables the Trump-backed firm to accelerate its goals in the cryptocurrency market.

Eric Trump, who serves as the chief strategy officer of American Bitcoin, stated, “Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market.” He emphasizes that this merger is crucial for expanding their operations and achieving significant market presence.

American Bitcoin was established in March and is partially owned by Hut 8. Under the merger’s terms, existing shareholders, including Eric Trump and his brother Donald Trump Jr., will retain 98% of the new company’s shares. The merger is anticipated to finalize in the third quarter of this year.

“Time-to-market was a critical factor, and this transaction enables an efficient path to public markets,” said a board member of American Bitcoin. He noted that this partnership aligns with the company’s mining-focused strategy.

The merger occurs amid political scrutiny of the Trump family’s cryptocurrency endeavors, particularly criticisms about potential conflicts of interest. Recently, a bill to regulate stablecoins was stalled in the U.S. Senate. Some senators have raised concerns about the Trump family’s ties to cryptocurrency exchanges and their involvement in crypto ventures.

The planned merger has caused Gryphon’s stock to jump significantly, rising to $2.19, while Hut 8 shares also saw an increase. This highlights the growing interest and financial implications of the Trump family’s endeavors within the cryptocurrency market.

As the cryptocurrency market evolves, the Trump family continues to position itself prominently within it, aiming to become a leading force in Bitcoin mining.