Trump-linked miner American Bitcoin going public via Gryphon merger

Gryphon Digital Mining will acquire American Bitcoin in a stock-for-stock transaction, with the combined entity operating under the American Bitcoin brand.

Bitcoin mining firm American Bitcoin is going public through a merger with crypto mining company Gryphon Digital Mining, the companies announced on May 12.

Under the terms of the deal, Gryphon Digital Mining will acquire American Bitcoin in a stock-for-stock transaction. After the merger, the new company will operate under the American Bitcoin brand and be led by its board of directors, which includes Eric Trump, the second-eldest of US President Donald Trump’s three sons.

News of the merger coincided with a sharp rise in Gryphon Digital Mining’s stock price, which climbed from $0.52 on May 9 to $2.15 at the time of writing, a gain of more than 313%, according to Google Finance.

The announcement follows early April reports that American Bitcoin was considering an initial public offering (IPO).

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