American Bitcoin, a new cryptocurrency company formed by the merger of Hut 8 and Gryphon, is preparing to debut on Nasdaq. Trading is expected to begin in September 2025.
American Bitcoin Debuts on Nasdaq
The merger of Hut 8 and Gryphon has led to the formation of American Bitcoin, which aims to launch on the Nasdaq in September 2025 with a valuation of $750 million. This move strengthens the presence of institutional players in North America's Bitcoin mining market.
Support from Institutional Investors
Key investors supporting American Bitcoin include Fidelity and Galaxy Digital. These organizations plan to back the venture through a SPAC merger, which will help expand operational scale and take advantage of public market benefits.
Bitcoin Price Trends and Market Implications
As of the time of writing, Bitcoin (BTC) is trading at $111,987.24, with a market cap of $2,229,992,298,138. The merger and public listing of American Bitcoin may enhance capital access and technological integration, promoting sustainable practices within the cryptocurrency market.
American Bitcoin aims not only to enter the public market but also to achieve greater transparency and compliance, thus fostering broader adoption of Bitcoin.
