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Investing.com -- American Bitcoin, a bitcoin miner supported by Donald Trump’s eldest sons, announced on Monday that it will join the Nasdaq via an all-stock merger with Gryphon Digital Mining. The co-founder Eric Trump, his brother Donald Trump Jr., and the crypto miner Hut 8, all existing shareholders of American Bitcoin, will continue to hold 98% ownership of the new entity.
This recent development is part of the Trump family’s ongoing engagement with cryptocurrency, which includes launching a meme coin in January and a partial ownership in World Liberty Financial, a cryptocurrency firm. President Trump has committed to positioning the U.S. as a global leader in the crypto space and has promised a more lenient regulatory approach.
In response to the announcement, Gryphon’s shares saw a more than three-fold increase in premarket trading, while Hut 8 shares rose by 13%. The deal is projected to be finalized in the third quarter of 2025.
Launched in March, American Bitcoin will retain Eric Trump as its chief strategy officer. He expressed his vision for the company, stating, "Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market."
According to the press release, the merged company will operate under the American Bitcoin brand and will be led by the management and board of directors of American Bitcoin. The company is expected to trade on Nasdaq under the ticker symbol "ABTC." The existing stockholders of American Bitcoin are projected to own approximately 98% of the combined company.
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