Eric Trump-backed bitcoin miner American Bitcoin announced that it would become a publicly-traded company through a merger with another Bitcoin miner, Gryphon Digital Mining (GRYP). Shares of Gryphon skyrocketed 285% to $2.00 on the news.&nbs💖p;

The deal would have Gryphon purchase American Bitcoin in a stock-for-stock transaction, culminating in the combined firm being named American Bitcoin a🉐nd run by its current management and board.

The new company is expected to trade on the Nasdaq under the ticker symbol "ABTC." 

Eric Trump Says Bitcoin 'One of the Most Important Asset Classes of Our Time'

Trump, who is co-founder and Chief Strategy Officer of American Bitcoin, said the firm's vision is to create the most investable bitcoin accumulation platform available, and that the transaction will be "bringing us closer to offering every investor access to a purpose-built platform engineered for scale and long-term value creation in what we believe is one of the most important asset classes of our time."

Trump launched American Bitcoin together with yet another miner, Hut 8 (HUT), earlier this year. Hut 8 CEO and Americanꦉ Bitcoin boar𓆉d member Asher Genoot explained that "taking American Bitcoin public is a critical step toward scaling the business at the pace and magnitude we envision."

Gryphon Digital Mining shares are up nearly 400% year-to-date. Hut 8 shares jumped 10% Monday but remain 25% lower for 2025.