Combined Entity to Trade Under Ticker ABTC Following Reverse Stock Split
Gryphon Digital Mining has secured shareholder approval for its planned reverse merger with American Bitcoin, setting the stage for a Nasdaq listing under the ticker symbol ABTC.
The Las Vegas-based Bitcoin mining company announced that its stockholders voted in favor of the stock-for-stock merger, which will finalize on September 2. As part of the agreement, Gryphon will execute a five-to-one reverse stock split, reducing outstanding shares from 82.8 million to approximately 16.6 million before the new listing.
Once complete, the combined entity will adopt the American Bitcoin name and start trading under ABTC on Nasdaq.
Details of the Deal and Market Impact
The merger provides American Bitcoin — a company linked to the family of U.S. President Donald Trump — a fast track to public markets without the need for a separate initial public offering.
Following the announcement, Gryphon’s shares (GRYP) experienced volatility, falling 10.5% to $1.54 on Friday after a 41% surge on Thursday, according to market data. Trading volume nearly tripled compared to the daily average, reflecting heightened investor activity ahead of the listing.
American Bitcoin’s Strategy and Holdings
American Bitcoin was formed earlier this year after Donald Trump Jr. and Eric Trump rebranded American Data Center into a Bitcoin-focused mining company. Positioned as a “pure-play” BTC miner, its strategy emphasizes accumulating large Bitcoin reserves while scaling operations through strategic partnerships.
The merger combines Gryphon’s low-cost mining infrastructure with American Bitcoin’s aggressive treasury strategy, creating a potentially stronger player in the crypto mining sector.
American Bitcoin currently discloses holdings of 215 BTC, though estimates from industry trackers suggest the number could be closer to 1,941 BTC. The move aligns with a broader trend of public companies expanding Bitcoin reserves, a group that collectively holds over 989,000 BTC, with MicroStrategy accounting for nearly 64% of that total.
Analysts view the merger as a strategic consolidation, enhancing operational efficiency and boosting market visibility. With Bitcoin prices stabilizing above $100,000, institutional interest in mining-focused equities remains strong.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
