American Bitcoin announces merger agreement with Gryphon Digital Mining

American Bitcoin (BTC), a Hut 8 (HUT) subsidiary, announced that it has entered into a definitive merger agreement with Gryphon Digital Mining (GRYP) pursuant to which Gryphon will acquire American Bitcoin in a stock-for-stock merger transaction. Upon closing, the combined company will operate under the American Bitcoin brand, led by the management and board of directors of American Bitcoin. The combined company is expected to trade on Nasdaq under the ticker symbol “ABTC.” Hut 8 Corp. launched American Bitcoin earlier this year in partnership with Eric Trump, with the goal of building the world’s largest, most efficient pure-play Bitcoin miner alongside a robust strategic Bitcoin reserve. Form of Consideration: 100% stock-for-stock transaction. Anticipated Closing Timeline: Targeting closing as early as Q3. Post-Transaction Ownership: Existing stockholders of American Bitcoin are expected to own approximately 98% of the combined company. Governance and Management: Combined company expected to be led by the American Bitcoin board of directors, including Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim, and management team, including Mike Ho, Matt Prusak, and Eric Trump.