American Bitcoin is going public through a merger with Gryphon Digital Mining, with the combined entity operating under the American Bitcoin brand.
Bitcoin mining firm American Bitcoin is going public through a merger with crypto mining firm Gryphon Digital Mining, the companies announced on May 12.
Under the terms of the deal, Gryphon Digital Mining will acquire American Bitcoin in a stock-for-stock transaction. After the merger, the new company will operate under the American Bitcoin brand and be led by its board of directors, which includes Eric Trump, son of US President Donald Trump.
News of the merger coincided with a sharp rise in Graphon Digital Mining’s stock price, which climbed from $0.52 on May 9 to $2.15 at the time of writing, a gain of more than 313%, according to Google Finance.
The announcement follows early April reports that American Bitcoin was considering an initial public offering (IPO).
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