American Bitcoin Gryphon Merger Gets Final Approval for NASDAQ ABTC Listing

Shareholders Approve Strategic Bitcoin Mining Merger

Gryphon Digital Mining shareholders have given final approval for a reverse merger with American Bitcoin, a Bitcoin mining company connected to the Trump family. The Las Vegas-based publicly traded Bitcoin miner announced the successful shareholder vote on Friday, following Wednesday's approval meeting.

The merger agreement includes a reverse five-to-one stock split and new NASDAQ listing scheduled for 5:00 pm ET on September 2. Once completed, the combined entity will operate under the American Bitcoin name and trade with the ticker symbol "ABTC."

Stock Split Details and Market Impact

The reverse stock split will reduce outstanding shares from 82.8 million to approximately 16.6 million, excluding new issuances related to the transaction. This consolidation aims to strengthen the stock price and improve trading appeal for institutional investors.

Following initial merger excitement, Gryphon's stock experienced volatility, dropping over 10% on Friday after Thursday's significant 41% rally. The market reaction reflects typical merger-related trading patterns as investors adjust to the new corporate structure.

American Bitcoin Background and Trump Family Connection

American Bitcoin emerged in March when Donald Trump Jr. and Eric Trump rebranded American Data Center under the new Bitcoin-focused identity. The company launched as part of Hut 8, a established digital asset mining and infrastructure provider.

The company positioned itself as a pure-play Bitcoin mining operation with an aggressive Bitcoin accumulation strategy. This approach aligns with the growing trend of public companies building substantial Bitcoin treasuries as part of their corporate strategy.

Strategic Benefits of the Gryphon Merger

The merger creates a pathway for American Bitcoin to access public markets without conducting a separate initial public offering. By leveraging Gryphon's existing NASDAQ listing, the company can accelerate its public trading timeline and reduce associated costs.

The combination brings together Gryphon's low-cost mining infrastructure with American Bitcoin's Bitcoin accumulation focus. This strategic alignment creates a more scalable platform designed to appeal to Bitcoin-focused investors.

Bitcoin Holdings and Treasury Strategy

American Bitcoin has disclosed verified holdings of 215 Bitcoin, though some estimates suggest total holdings could reach as high as 1,941 BTC. The company's treasury strategy reflects the broader corporate Bitcoin adoption trend among public companies.

Public companies collectively now hold 989,926 Bitcoin, with MicroStrategy leading at nearly 64% of total corporate holdings. This demonstrates the growing institutional acceptance of Bitcoin as a treasury asset.

Mining Industry Consolidation Trends

The merger represents broader consolidation trends in the Bitcoin mining industry. Companies are seeking operational efficiencies and improved market positioning through strategic combinations and public listings.

American Bitcoin's expansion plans include potential acquisitions in Asia to boost Bitcoin holdings and mining capacity. This international growth strategy positions the company for global market opportunities.

Market Outlook for ABTC

The new ABTC ticker will begin trading following the September 2 reverse split completion. Investors will watch how the combined entity performs in the competitive Bitcoin mining landscape.

The merger timing coincides with increased institutional interest in Bitcoin mining stocks and corporate Bitcoin adoption. This market environment may provide favorable conditions for the newly combined company's public market debut.

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