Donald Trump-Linked American Bitcoin Is Going for a New Partnership for an IPO! Here Are the Details
By: cryptosheadlines|2025/05/12 22:00:10
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com American Bitcoin, a subsidiary of Hut 8 Corp. and Trump-linked American Data Centers, is preparing to go public via a merger with Gryphon Digital Mining, according to a press release issued today.Trump-Led American Bitcoin to Go Public Through Merger with Gryphon DigitalIn the stock-for-stock transaction, which is expected to close as early as Q3 2025, American Bitcoin shareholders will own 98% of the combined asset, while Gryphon shareholders will retain 2%.Once the merger is complete, the combined company will operate under the American Bitcoin brand and trade on Nasdaq under the symbol ABTC.American Bitcoin was launched in March 2025 as a joint venture between Hut 8, a major Bitcoin mining company, and American Data Centers, a firm backed by Eric Trump and Donald Trump Jr.The move deepens former President Donald Trump’s family ties to the cryptocurrency industry as economic narratives of the 2024 campaign cycle continue to influence market dynamics.“This transaction marks the next step in scaling American Bitcoin as a vehicle specifically designed for low-cost Bitcoin accumulation,” said Hut 8 CEO Asher Genoot.Genoot had previously hinted that the Trump-affiliated mining venture would spin off into a public company on April 1. The now-confirmed merger would allow American Bitcoin to access private growth capital independent of Hut 8’s balance sheet, while providing long-term exposure to Bitcoin for existing shareholders.Following the announcement, Hut 8 shares rose 12% in pre-market trading as investors responded positively to the IPO and potential capital access, according to Yahoo Finance.*This is not investment advice.Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!Source link
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