Bitcoin News Today: Bitcoin Dynasty Strikes Gold: Trump-Backed Miner Readies Nasdaq Debut

Gryphon Digital Mining has secured final shareholder approval for its merger with American Bitcoin , a Bitcoin mining company linked to the Trump family. This deal, structured as a stock-for-stock reverse merger, will see the combined entity listed on Nasdaq under the ticker symbol "ABTC." The merger was approved by shareholders during a special meeting on August 27, 2025, following prior authorization granted on May 24 of the same year. The reverse stock split, set at a 5-for-1 ratio, will reduce the outstanding shares from 82.8 million to approximately 16.6 million, effective at 5:00 p.m. ET on September 2, 2025. This step is necessary to meet Nasdaq's minimum bid price requirements for continued listing.

American Bitcoin, which rebranded from the American Data Center in March, was established by Donald Trump, Jr. and Eric Trump as a "pure-play" Bitcoin mining company. Its strategy involves accumulating a significant Bitcoin treasury, and the merger with Gryphon provides a streamlined path to public markets by leveraging Gryphon’s existing Nasdaq listing. Gryphon, based in Las Vegas, Nevada, brings low-cost mining infrastructure to the partnership, while American Bitcoin contributes a more aggressive BTC accumulation strategy. This combination is expected to create a more scalable and investor-friendly platform.

The rebranding to "American Bitcoin" will be accompanied by a transition to Class A Common Stock with a new CUSIP number, while market capitalization remains unchanged. Shareholders will not receive fractional shares; instead, holdings will be rounded up to the next whole number. Electronic share accounts will be automatically adjusted to reflect the post-split numbers, while brokers and custodians will handle the changes for shares held in nominee accounts. Gryphon emphasized that the merger will maintain proportional ownership structures and ensure regulatory compliance.

Following the merger announcement, Gryphon’s stock initially surged but then declined sharply, closing down 10.5% at $1.54 on Friday, with trading volume nearly tripling its daily average. This volatility highlights the market’s cautious response to the deal, despite the strategic alignment between the two companies. Analysts suggest that the rebranding and listing under ABTC aim to enhance brand recognition and market positioning, potentially improving liquidity and investor appeal.

American Bitcoin’s estimated Bitcoin holdings, according to data from BitcoinTreasuries.NET, could be as high as 1,941 BTC, although the company has only officially disclosed 215 BTC. This makes it one of several public companies actively building BTC treasuries, a trend led by companies like MicroStrategy, which holds a significant portion of all corporate Bitcoin reserves. The combined entity is expected to continue expanding its Bitcoin holdings and operations, leveraging Gryphon's infrastructure and American Bitcoin’s acquisition strategy.

The merger and listing are being coordinated by the Continental Stock Transfer & Trust Company, which will handle the logistics for certificated shares. Gryphon’s board selected the 5-for-1 reverse split within the approved range during a meeting on August 22, 2025, and the company filed a definitive proxy statement with the U.S. Securities and Exchange Commission on April 21. This process ensures transparency and regulatory compliance, setting the stage for ABTC’s trading debut on Nasdaq.

Source: