The Massive Bitcoin Deal Eric Trump Never Saw Coming (Or Did He?)

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In the midst of the chaotic spectacle that is modern finance, a merger of colossal proportions is about to launch American Bitcoin into the feverish embrace of public markets, setting the stage for a Nasdaq debut that promises to ignite a frenzy in institutional-scale mining.

Eric Trump, the Bitcoin Evangelist, Joins Forces in a Mega Deal—But Is It Really What We Think?

American Bitcoin Corp., a venture that, like some strange alchemy, is infused with the backing of the enigmatic Hut 8 Corp. and the ever-watchful eye of Eric Trump, now prepares itself to be thrown into the limelight. This leap into the public domain will come through an audacious merger with Gryphon Digital Mining Inc. (Nasdaq: GRYP). Monday’s announcement was hardly subtle in its implications. This wasn’t just a merger; it was an act of corporate theatre, structured in such a way that the result would be as grand as it was inevitable—a stock-for-stock transaction that would see the birth of a new titan under the American Bitcoin banner. As if to seal the deal, a press release ominously proclaimed:

Upon closing, the combined company will operate under the American Bitcoin brand, led by the management and board of directors of American Bitcoin. The combined company is expected to trade on Nasdaq under the ticker symbol ‘ABTC.’

In a curious twist of fate—or perhaps it’s just savvy business acumen—Gryphon, the ostensibly minor player in this drama, is willingly handing over the reins to the executive team of American Bitcoin. Steve Gutterman, Gryphon’s CEO, perhaps sensing his company’s fate was sealed, described the transaction as nothing short of “a pivotal moment for shareholders,” as if the company had somehow unlocked the secret to the future of bitcoin mining. In reality, the numbers tell a different story. Gryphon’s shareholders, those poor souls, will be left with a meager 2% of the merged entity. Meanwhile, American Bitcoin’s shareholders will control a staggering 98%. Ah, the sweet taste of corporate victory—or perhaps it’s just an illusion. A mere mirage.

Of course, they’re all expecting the merger to close in the third quarter of 2025. But, as is often the case in these high-stakes corporate games, the outcome depends on shareholder approval and an array of regulatory hurdles. And who could forget the unspoken, looming threat of market dynamics? Yes, the path to riches is fraught with peril. But onward they march, driven by the dream of creating a publicly traded institution that will scale bitcoin mining like nothing before.

Asher Genoot, who perhaps enjoys a bit of hyperbole, hailed the merger as a “critical step” toward achieving the business’s grandiose goals. “Taking American Bitcoin public is a critical step,” he said, perhaps trying to convince himself as much as anyone. And then, of course, came the most telling line of all:

Time-to-market was a critical factor, and this transaction enables an efficient path to public markets by combining with an entity that is structurally aligned with American Bitcoin’s mining-focused launch strategy.

Indeed, they’ve been relentless in their pursuit. The clock is ticking, the stakes are high, and the risks—oh, the risks—are ever-present. Regulatory approval? A mere formality. Market conditions? Let them beware. Integrating operations? Child’s play. But who cares about such trivialities when you’re making history, right?

And thus, we stand on the precipice of a new era in bitcoin mining. Or perhaps, we stand on the edge of a very expensive gamble. Who can say? Only time—and the market—will reveal the truth.

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2025-05-13 05:07