Gryphon Digital Mining's stock experienced a significant rise following the announcement of its merger with American Bitcoin, scheduled for September 2025.
Gryphon Stock Surge
Gryphon Digital Mining's stock has surged by 231% since May as anticipation built around its impending merger with American Bitcoin. The merger is expected to be completed by September 2025, with the new shares trading under the ticker ABTC on Nasdaq.
Merger Participants
Key figures involved in the merger include Eric Trump and Donald Trump Jr., who will collectively hold 98% ownership of the newly formed entity. Other significant investors include Asher Genoot, CEO of Hut 8, and the Winklevoss twins from Gemini.
Market Impact
The merger announcement prompted an immediate market reaction, resulting in Gryphon's stock price appreciation. Both companies are strong bitcoin miners, which could change current industry dynamics. Gryphon has also filed for a $5 billion shelf registration to facilitate capital raising, underscoring significant institutional backing for American Bitcoin.
The merger between Gryphon Digital Mining and American Bitcoin could have substantial implications for the cryptocurrency market and mining, driving increased institutional investments and advancements in mining technologies.
