Hut 8 Corp. announced on May 12, 2025, that its majority-owned subsidiary, American Bitcoin, has entered into a definitive merger agreement to go public with Gryphon Digital Mining, Inc. The combined entity is expected to operate under the American Bitcoin brand and trade on Nasdaq under the ticker symbol 'ABTC'.
This transaction is anticipated to close as early as Q3 2025, with existing American Bitcoin stockholders, including Hut 8, expected to own approximately 98% of the combined company. Hut 8 will beneficially own a majority stake, preserving its long-term exposure to Bitcoin upside for its shareholders.
Following the transaction, Hut 8 will continue its role as American Bitcoin’s exclusive infrastructure and operations partner through a series of long-term commercial agreements. These agreements are designed to generate stable, contracted revenue streams for Hut 8’s Power and Digital Infrastructure segments, reinforcing its strategic shift towards predictable infrastructure-like returns.
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