Bitcoin News Today: Bitcoin Miner's Nasdaq Leap: A Game of Splits and Splits

Gryphon Digital Mining shareholders have approved a stock-for-stock merger with American Bitcoin , setting the stage for the combined entity to debut on the Nasdaq under the ticker symbol ABTC. The merger, first reported in early August 2025, was finalized following a shareholder vote on August 27, 2025. Gryphon’s board subsequently authorized a 5-for-1 reverse stock split, effective at 5:00 pm ET on September 2, 2025. This move will reduce the outstanding shares from 82.8 million to approximately 16.6 million, excluding any new issuances tied to the transaction.

The reverse stock split and rebranding are necessary to meet Nasdaq listing requirements and ensure compliance with minimum bid price rules. Post-split, the company will transition to Class A Common Stock with a new CUSIP number, while maintaining the same market capitalization. Shareholders will not receive fractional shares; instead, holdings will be rounded up to the nearest whole share, and adjustments will be handled automatically by brokers and custodians.

American Bitcoin, which was rebranded from American Data Center in March 2025, has positioned itself as a "pure-play" Bitcoin mining company, with a strategy to accumulate a significant Bitcoin treasury. The company is currently reported to hold 215 BTC, with estimates from third-party data providers suggesting the total could be as high as 1,941 BTC. The merger with Gryphon provides a direct route to the public markets, allowing American Bitcoin to bypass the traditional IPO process and leverage Gryphon’s existing Nasdaq listing for immediate liquidity.

The strategic rationale behind the merger includes combining Gryphon’s low-cost mining infrastructure with American Bitcoin’s aggressive BTC accumulation strategy. This integration is expected to create a more scalable and investor-friendly platform. The move aligns with a broader trend of publicly traded companies increasing their Bitcoin reserves, with the total held by public companies now standing at 989,926 BTC, led by MicroStrategy’s 64% share of the total.

American Bitcoin’s leadership, including CEO Asher Genoot of Hut 8 (which owns 80% of American Bitcoin), has emphasized the advantages of merging with an established public company over pursuing a direct IPO. The new entity will retain the American Bitcoin name and operate under the ABTC ticker, aiming to enhance brand recognition and market positioning. The company is also exploring acquisition opportunities in Asia, particularly in Hong Kong and Japan, to expand its global footprint.

Following the announcement, Gryphon’s stock experienced volatility, with shares dropping more than 10% on Friday after an earlier 41% rally. The stock closed at $1.54 on Friday, down 10.5% from the previous day, with trading volume nearly tripling its daily average. The fluctuation underscores market uncertainty and the speculative nature of the transaction.

The Nasdaq listing is expected to provide American Bitcoin with greater access to capital and institutional investor interest. As the company prepares for its trading debut, it aims to strengthen its position in the digital mining sector while adhering to regulatory and operational standards necessary for long-term growth and transparency.

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