Dominari backs American Bitcoin’s Nasdaq debut

Published 13/05/2025, 13:14
Dominari backs American Bitcoin’s Nasdaq debut

NEW YORK - Dominari Holdings Inc. (Nasdaq: DOMH), an $86 million market cap company whose stock has surged over 520% year-to-date according to InvestingPro, has announced its subsidiary American Bitcoin’s definitive merger with Gryphon Digital Mining, Inc. (Nasdaq: GRYP), a move that will take American Bitcoin public on the Nasdaq stock exchange. The stock-for-stock transaction is expected to finalize in the third quarter of this year, with American Bitcoin operating under its own brand and ticker symbol "ABTC".

The merger will see former American Bitcoin stockholders, including Dominari Holdings, owning approximately 98% of the new entity. With a healthy current ratio of 5.92 and impressive revenue growth of 790% in the last twelve months, Dominari brings strong financial metrics to the deal. American Bitcoin, which was launched earlier this year with Eric Trump as an advisor and chief strategy officer, aims to become the world’s largest and most efficient Bitcoin miner, with a significant strategic Bitcoin reserve.

Kyle Wool, President of Dominari Holdings, expressed confidence in the merger, noting its alignment with Dominari’s broader strategy and business model. Dominari Holdings, a diversified holding company engaged in wealth management, investment banking, and asset management, sees the merger as a value-creating move for its shareholders.

The merger is seen as a step towards consolidating American Bitcoin’s position in the digital asset mining sector. Dominari Holdings, which also invests in AI and Data Center sectors, has been an early investor in American Bitcoin, recognizing its potential in the rapidly evolving cryptocurrency mining industry.

This news is based on a press release statement and should be considered in the context of Dominari Holdings’ strategic interest in expanding its reach in the digital infrastructure and Bitcoin mining space. The company’s forward-looking statements indicate a positive outlook for the merger’s potential impact on its business and shareholder value. However, as with all forward-looking statements, they are subject to risks and uncertainties, and actual results may differ materially from projections. InvestingPro analysis reveals 8 additional key investment tips for DOMH, helping investors make more informed decisions about this volatile stock’s potential.

In other recent news, Dominari Holdings Inc. declared a special cash dividend of $0.32 per share, amounting to a total payout of approximately $4.6 million to shareholders of record by February 24, 2025. This announcement comes amid the company’s strategic moves to expand into the AI infrastructure sector, notably through its involvement in the formation of American Data Centers Inc., where Dominari holds a 32% stake. In a related development, Dominari’s subsidiary, Dominari Securities LLC, received approval from the Financial Industry Regulatory Authority (FINRA) to expand its operations, adding 50 new seats and increasing office locations. This expansion aligns with Dominari Holdings’ focus on emerging technologies, including data centers and renewable energy.

Additionally, Dominari Holdings appointed CBIZ CPAs P.C. as its new auditor for the fiscal year ending December 31, 2025, following Marcum LLP’s resignation. The financial statements audited by Marcum for the previous fiscal years did not contain any adverse opinions or disagreements. The company has confirmed compliance with regulatory requirements regarding this transition. These recent developments reflect Dominari Holdings’ broader strategy to enhance its holdings in high-growth sectors and support early-stage technology companies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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