American Bitcoin to Go Public in Reverse Merger With Gryphon, Ticker ABTC
Gryphon Digital Mining has received final shareholder approval to merge with American Bitcoin, linked to Donald Trump's family. The stock-for-stock merger was approved, with a reverse five-to-one stock split and new listing set for 5:00 pm ET on Sept. 2. Post-split, the combined entity will operate under the name American Bitcoin and trade as “ABTC.” The reverse split will reduce outstanding shares from 82.8 million to approximately 16.6 million. American Bitcoin, launched in March by Trump’s sons, aims to be a leading Bitcoin mining company with a significant BTC treasury. The merger allows American Bitcoin to enter public markets via Gryphon’s Nasdaq listing, enhancing scalability and investor appeal. American Bitcoin currently holds 215 BTC, with estimates suggesting it could possess up to 1,941 BTC. Public companies collectively hold 989,926 BTC, with MicroStrategy owning nearly 64%.
