American Bitcoin Corp., a Trump family-affiliated Bitcoin mining company, is taking significant steps to go public. At the same time, Gryphon Digital Mining is pursuing its own initiatives to do just that. The companies filed an amended S-4 registration statement with the U.S. Securities and Exchange Commission (SEC). This move gets them one step closer to a public listing as a merged company.
Donald Trump Jr. and Eric Trump are founding partners of American Bitcoin Corp. The other 20% stake in American Bitcoin Corp. is owned by its founding partners.
American Bitcoin Corp., a company focusing on institutional Bitcoin adoption, is scheduled to merge with a subsidiary of Gryphon Digital Mining. Their aspirations are to complete the merger by the end of the third quarter of 2025. Together, the combined entity plans to seek a Nasdaq listing by 2025.
Merger Details and Leadership
The merger will result in Gryphon Digital Mining’s existing digital asset mining operations coming into the combined company. As of Q2 2024, Gryphon’s self-mining hashrate is 899 petahash per second.
Gryphon’s mission includes a strong focus on renewable and low-cost energy. Most recently, the company purchased a natural gas asset in Canada to fuel its operations. The merger provides a quickly chartable route to expanding scale and market presence for Gryphon Digital Mining.
Matt Prusak, former CFO of the merged company, is taking over as CEO. Eric Trump is providing Chief Strategy Officer.
Strategic Vision
The decision to go public is seen as a key milestone in deepening American Bitcoin Corp.’s deployment and allowing the company to serve more widely. The company’s strategy has been to take advantage of the highly fragmented Bitcoin mining industry.
"Taking American Bitcoin public is a critical step toward scaling the business at the pace and magnitude we envision.” - Asher Genoot
There is a silver lining sentiment that the fragmentation makes room for one category leader to rise to the top. The merged company’s stated intent is to deliver pure-play Bitcoin and hashrate exposure.
Industry Impact
American Bitcoin Corp.’s impending public listing may have more far-reaching effects for the fledgling Bitcoin mining industry. It points to the growing interest and institutionalization of Bitcoin mining ops.
The role of the Trump family further deepens the drama. It increases the scrutiny on the company’s environmental practices and regulatory compliance.
Lee Chia Jian
Blockchain Analyst
Lim Wei Jian blends collectivist-progressive values and interventionist economics with a Malaysian Chinese perspective, delivering meticulous, balanced blockchain analysis rooted in both careful planning and adaptive thinking. Passionate about crypto education and regional inclusion, he presents investigative, data-driven insights in a diplomatic tone, always seeking collaborative solutions. He’s an avid chess player and enjoys solving mechanical puzzles.
