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American Bitcoin, backed by Eric Trump and Donald Trump Jr., will begin trading on the Nasdaq next week in the family’s latest move to expand its crypto empire.
The listing, secured through a merger with Gryphon Digital Mining, a publicly-listed BTC miner, fast-tracks the venture’s access to Wall Street capital without the need for an initial public offering (IPO).
As part of the transaction, Gryphon will implement a 5-for-1 reverse stock split to meet Nasdaq’s listing requirements. Gryphon Digital Mining shareholders approved the stock-for-stock merger on Wednesday, the company said in an Aug. 29 announcement.
“The Reverse Stock Split is expected to become effective as of 5:00 p.m. Eastern Time on Sept. 2, 2025,” it said.
Gryphon Digital Mining Announces Merger with American Bitcoin. Read the press release here: https://t.co/vtsk5yIzLJ $GRYP @AmericanBTC pic.twitter.com/Xg6JyUJ0tU
— Gryphon Digital Mining (@GryphonMining) May 12, 2025
The stock split means that every 5 shares held prior to the merger will become one share.
That will see the number of Gryphon Digital Mining shares get slashed from around 82.6 million to 16.6 million, before shares from the merger are added.
The company said that the overall value of the shares won’t change, just the stock price for each share. This is being done to meet the Nasdaq’s minimum share price requirement for listing.
After the merger closes, the stock will begin trading as Class A Common Stock under the ticker “ABTC.”
The shareholder vote and subsequent merger follows an initial agreement in May under which American Bitcoin would go public by merging with Gryphon Digital Mining.
Gryphon Digital Mining Shares Slump 10.5%
Earlier this week, Gryphon Digital Mining’s shares surged after news of the merger broke. But yesterday they plunged 10.47%.
There was, however, some buying activity during the after-hour session, which saw the firm’s stock price climb over 1%, data from Google Finance shows.
Gryphon Digital Mining share price (Source: Google Finance)
Despite the recent pullback, the company’s stock is still up more than 17% over the past week and 54% on the monthly time frame.
American Bitcoin Set To Join Bitcoin Treasury Race
American Bitcoin debuted in March after Eric Trump and Donald Trump Jr rebranded American Data Center under the new name. The venture was launched in collaboration with Hut 8, a crypto mining and infrastructure company who holds 80% of the firm’s shares.
When it was launched, American Bitcoin was positioned as a “pure-play” Bitcoin mining company with the aim to add a large amount of BTC to its balance sheet.
American Bitcoin has officially disclosed holdings of 215 BTC. With the upcoming access to public markets, American Bitcoin will be able to raise more capital and increase its BTC holdings..
That’s as the Bitcoin treasury race heats up, with 310 companies collectively holding 3.68 million BTC on their balance sheets, data from Bitcoin Treasuries shows.
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