American Bitcoin, a bitcoin mining company co-founded by Eric Trump, is going public. It will do this primarily by going public through a merger with Gryphon Digital Mining. The acquisition, which was announced by American Bitcoin, is billed as an all-stock deal between the two companies.

The new, merged company will conduct business under the name American Bitcoin. As of this writing, its current management team and board are still in line to run the company.

The announcement of the merger triggered a sharp runup in Gryphon Digital Mining shares. In the three days after the announcement, stock price surged 285% to $2.00. Gryphon Digital Mining trades under the stock symbol [GRYP].

Eric Trump, co-founder and Chief Strategy Officer of American Bitcoin said he couldn’t be more excited about the merger.

"bringing us closer to offering every investor access to a purpose-built platform engineered for scale and long-term value creation in what we believe is one of the most important asset classes of our time" - Eric Trump

American Bitcoin’s mission is to be the most accessible and investable platform for Americans to accumulate bitcoin. Our transaction with Gryphon Digital Mining is the beginning of taking a gigantic leap toward that direction.

Earlier this year, Eric Trump joined forces with bitcoin miner Hut 8 to start the American Bitcoin. The merger with Gryphon Digital Mining will result in a publicly-traded company, providing American Bitcoin with increased access to capital markets.

"taking American Bitcoin public is a critical step toward scaling the business at the pace and magnitude we envision" - Asher Genoot