- American Bitcoin merges with Gryphon Digital, set for Nasdaq listing.
- Trump brothers hold minority stake.
- Hut 8 becomes majority owner with 80% stake.
This merger reflects a significant intersection of political influence and cryptocurrency, potentially impacting market dynamics and investor interest, particularly given the substantial Bitcoin holdings involved.
American Bitcoin, a company linked to the Trump family, has successfully merged with Gryphon Digital Mining, paving the way for a Nasdaq listing in September 2025. The merger includes approval from Gryphon’s board of directors.
Hut 8, a major North American mining company, becomes the majority owner with an 80% stake. Eric Trump and Donald Trump Jr. collectively hold an 18–20% minority stake in the newly formed public entity.
The immediate effect positions Hut 8 as a dominant player in the Bitcoin mining industry. This partnership leverages political connections while expanding market influence through substantial Bitcoin treasury assets.
The merger raised $220 million from investors, alongside an additional $10 million in Bitcoin. This financial influx and treasury accumulation create shifts in market dynamics, challenging competitors within the mining sector.
The listing process involved a 5-for-1 reverse stock split to meet Nasdaq’s requirements. Market participants speculate on potential impacts, with comparisons drawn to companies like Marathon Digital.
Analyses suggest that this merger could lead to increased Bitcoin mining focus, potentially influencing Bitcoin’s market position. The involvement of political figures in crypto raises questions about regulatory and financial outcomes.
“Hut 8, Eric, and his brother Donald will own 98% of the entity … the Trump brothers found it more advantageous to create and list the company, rather than go for a public IPO, which would give it access to multiple financial avenues anyway,” Asher Genoot, CEO, Hut 8.
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