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Gryphon Digital Mining Stock Price Rises 11% as American Bitcoin Merger Approved
Summary: According to The Miner, Gryphon Digital Mining's (NASDAQ: GRYP) stock price rose 11% in pre-market trading on Thursday, following reports from Reuters that its all-stock merger with American Bitcoin, supported by Donald Trump's son, has been approved by shareholders and is expected to be completed in the coming weeks. After the merger, the new company ...
According to The Miner, Gryphon Digital Mining's (NASDAQ: GRYP) stock price rose 11% in pre-market trading on Thursday, following reports from Reuters that its all-stock merger with American Bitcoin, supported by Donald Trump's son, has been approved by shareholders and is expected to be completed in the coming weeks.
After the merger, the new company will retain the name American Bitcoin and will be primarily controlled by Hut 8 and the Trump brothers, who will collectively hold about 98% of the shares. The new company plans to begin trading in early September under the ticker symbol 'ABTC'.
Reportedly, Gemini co-founders Tyler and Cameron Winklevoss are among the main investors in this transaction. Asher Genoot, CEO of American Bitcoin, stated that the investor team has been finalized.
Prior to this news, Bitcoin mining company Gryphon Digital Mining was going public through a reverse merger with Nasdaq-listed data management company Sphere 3D.
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