Gryphon Digital Mining is ready to merge with Trump-linked American Bitcoin in September, with its shares already up 231% for the reason that Might announcement.
Gryphon’s shares jumped 42.1% on Thursday to $1.75 from $1.35, in response to Google Finance. The rally got here as American Bitcoin’s largest investor, Hut 8 CEO Asher Genoot, instructed Reuters the merger between American Bitcoin and Gryphon is anticipated to be finalized quickly, with buying and selling set to start in early September.
In accordance with the Reuters report, the merger will likely be all-stock. The brand new entity will retain the identify American Bitcoin, and its two founders — Eric Trump and Donald Trump, Jr. — and Hut 8 will personal 98% of the entity.
Anchor buyers have been finalized. Two buyers in American Bitcoin are Cameron and Tyler Winklevoss, the co-founders of cryptocurrency trade Gemini. Cointelegraph reached out to American Bitcoin for remark, however had not acquired a reply at time of publication.
American Bitcoin has been quietly accumulating Bitcoin (BTC), forming a de facto BTC treasury. It has additionally bought Bitcoin mining tools and is trying to purchase an organization in Asia to develop its BTC reserves.
Associated: Trump-linked American Bitcoin raises $220M for mining, treasury
Coverage tone shift prompts IPOs
American Bitcoin goes public as extra crypto firms observe the identical path. Circle went public in June 2025, and its inventory rose 167% on the day of its debut. Cryptocurrency trade Bullish went public in August, and its inventory jumped as excessive as 218% on its debut.
In December 2024, crypto asset administration firm Bitwise predicted that 2025 can be the yr of the crypto preliminary public providing. Different firms rumored to be making ready for an preliminary public providing are Gemini, which has filed an IPO preparatory type with the US Securities and Change Fee, and cryptocurrency trade Kraken.
The wave of crypto firms going or making ready to go public in the USA has coincided with a turnaround in digital asset coverage within the nation. On March 6, US President Donald Trump signed an govt order making a nationwide strategic Bitcoin reserve and digital asset stockpile. On July 18, he signed the GENIUS Act, which regulates stablecoins and their issuers, into regulation.
Journal: Trump’s crypto ventures elevate battle of curiosity, insider buying and selling questions
