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The cryptocurrency market is buzzing as Gryphon Digital Mining’s merger with American Bitcoin Corp (ABC), backed by Eric and Donald Trump Jr., received shareholder approval on August 27, 2025, paving the way for a Nasdaq listing under the ticker ABTC in September. The stock-for-stock deal, announced in May, positions the combined entity as a leading Bitcoin mining and accumulation platform, leveraging Gryphon’s infrastructure and ABC’s 215 BTC ($23 million) reserve as of May 31. However, claims of an ABTC token launch are unverified, with no credible evidence supporting a Trump-backed token debut.
The merger, closing in Q3 2025, sees ABC shareholders, including Hut 8 (80% stake) and the Trump brothers (18%), retaining 98% ownership, while Gryphon shareholders hold 2%. A 5-for-1 reverse stock split, effective September 2, reduces Gryphon’s shares from 82.8 million to 16.6 million to meet Nasdaq requirements. Gryphon’s stock surged 231% since May, closing at $1.75 on August 28, while Hut 8 gained 12%. Anchor investors, including Gemini’s Winklevoss twins, bolster confidence.
ABC, launched in March 2024, aims to be the world’s largest pure-play Bitcoin miner, operating 60,000 Bitmain and MicroBT miners across New York, Texas, and Canada. Hut 8’s CEO Asher Genoot emphasized the merger’s financing advantages over a traditional IPO, enabling low-cost Bitcoin accumulation. Despite optimism, regulatory scrutiny and Trump family involvement raise conflict-of-interest concerns, potentially impacting investor sentiment.
Investors eyeing ABTC face high volatility risks but see potential in its $5 billion securities filing and U.S. policy shifts, like Trump’s Bitcoin reserve proposal. With Bitcoin at $111,948, careful monitoring is advised as ABTC navigates a competitive crypto landscape.
