American Bitcoin has announced its intention to go public through a merger with Gryphon Digital Mining. This deal may significantly alter the market structure.
Terms of the Merger and Its Implications
Under the terms of the deal, Gryphon Digital Mining will acquire American Bitcoin in a stock-for-stock transaction. After the merger, the new company will operate under the American Bitcoin brand and be led by its board of directors, including Eric Trump, son of US President Donald Trump.
Post-Merger Ownership Structure
According to the announcement, existing American Bitcoin shareholders will own roughly 98% of the new company. Following the transaction, the new company will control most of the outstanding stock. Hut 8 will continue to manage American Bitcoin’s infrastructure and operations through long-term commercial agreements, expected to generate stable revenue streams.
Information about American Bitcoin
American Bitcoin is a subsidiary of Hut 8, actively involved in mining and energy infrastructure. It was established in March with backing from several members of the Trump family, including Donald Trump Jr. and Eric Trump. The company aims to become the largest and most efficient pure-play Bitcoin miner globally.
The merger between American Bitcoin and Gryphon Digital Mining opens new opportunities for shareholders and implies significant changes in the structure of American cryptocurrency mining.
