American Bitcoin, a subsidiary of Hut 8, plans to go public through a merger with Gryphon Digital Mining, with Eric Trump appointed as chief strategy officer. This 100% stock-for-stock merger aims to position American Bitcoin as a leader in low-cost Bitcoin mining. The merger is expected to close in Q3 and is anticipated to provide American Bitcoin with dedicated growth capital independent of Hut 8. The company intends to maintain its brand while relying on Hut 8's infrastructure. The merger highlights a gap in U.S. leadership within the Bitcoin ecosystem, aiming to streamline access to Bitcoin for Americans. Shares of Gryphon soared over 173%, while Hut 8's shares also saw a significant increase. This venture continues the Trump family's involvement in cryptocurrency initiatives, following prior projects associated with Trump's media enterprises.

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