A highly strategic merger currently in progress in the Bitcoin mining industry could alter the space’s competitive landscape. Gryphon Digital Mining, American Bitcoin and Hut 8 are joining forces in a powerful new alliance. Combined, they hope to be among the five largest Bitcoin miners in the world! The merger further consolidates dangerous operational capacity. Additionally, it maximizes nontraditional know-how and connections to help them cement their competitive advantage in the marketplace.

Merger Details and Strategic Advantages

The merger combines the unique strengths of each organization. Hut 8 has a competitive advantage through its low-cost energy procurement and facility management expertise. Together, they’re poised to transform the way American Bitcoin operates. Gryphon only adds 1.3 EH/s of operational capacity, but the new combined entity will have nearly 4 EH/s under its control.

Eric Trump, co-founder and chief strategy officer for American Bitcoin, joins the strategic advantage. Combined with his political and financial networks, there’s promise that they can unlock doors to institutional capital. They enable important regulatory discussion in the quickly evolving, sometimes wild west world of crypto mining.

Nasdaq Listing and Market Impact

Gryphon, which was already trading on Nasdaq, has had its stock increase 15% since the merger announced in June 2025. This increase is a clear demonstration of investor confidence in the expected synergies and overall strategic positioning of the new combined entity. Both Gryphon and American Bitcoin seem hell-bent on fostering North America’s first Nasdaq-traded Bitcoin miner with an in-house “strategic reserve.” If enacted, this would become the highest standard for maintaining financial stability and long-term value in the sector.

The merger is still dependent on at least three critical approvals. The agreement is subject to SEC approval. Gryphon filed an amended Form S-4 on July 1, 2025 and it must become effective before the deal can close. Gryphon’s stockholders need to approve the deal—thereby increasing an additional layer of scrutiny and decision-making.

Ownership Structure and Future Prospects

Following the merger, Hut 8 and the Trump family—via their 20% ownership in American Bitcoin—will hold 98% of ABTC. A more concentrated ownership structure would allow faster decision making and strategy alignment. The combined entity is looking to expand both companies’ groundwork in the Bitcoin mining industry. It will use its increased operational capability and well-positioned, strategic stockpiles to achieve decisive superiority.

The profitability of Bitcoin mining is directly subject to the current market value of BTC. At a Bitcoin price of $20,000, it’s become relatively easy to reap profitability through mining. Still, a crash might expose fatal flaws—in particular for highly leveraged miners such as Gryphon. The long-term success of this merger will depend largely on the merits of its strategic advantages. Equally it depends on the solidity of the Bitcoin market.