- Eric Trump’s American Bitcoin will be public to scale “Cheap BTC accumulation.”
- The deal will enable US Bitcoin shareholders to own 98%.
American bitcoin, a Bitcoin (BTC) Mining companies founded by Eric Trump have announced plans to publish.
On one statement On May 12, the company said it will merge with a Nasdaq-listed Gryphon Digital Mining to “scale BTC accumulation.”
“Positions American Bitcoin to become a listed vehicle for cheap bitcoin collections on scale.”
the American Bitcoin is a company mainly owned by HUT 8, a top BTC mining operator.
According to the agreement, shareholders in American Bitcoin will own 98% of the new merger, while the Gryphon shareholders will only get 2%.
Bitcoin spare game
After the deal, the company will work under a new brand, American Bitcoin. It will focus on industrial BTC mining and BTC reserve development. Eric Trump said in a statement, said,
“Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform on the market.”
For his part, Asher Genoot, CEO of HUT 8 and board member of American Bitcoin, noted that going public would allow the company to scale and meet their goals.
According to Google Finance dataThe update led to a 173% daily rally for Gryphon Digital Mining shares (GRYP).
That said, Bitcoin Mining is the latest Trump family interest in space, along with other companies in Stablecoin and the Defi segments.
Interestingly, for the new company, the team is looking for a similar strategy-like BTC game through mining rather than buying access directly from the markets.
According to Cryptoquant Axel AdlerThe average cost of mining a BTC was about $ 36.8,000.
Compared to the current BTC value over $ 100K, this means a +180% reinforcement. From this perspective, the American Bitcoin model, especially the BTC reserve angle, was likely.
Source: Cryptoquant
Some analysts abandoned that the above costs apply only to electricity, not mining hardware. According to critics, the cost of mining a single BTC can hit $ 80k- $ 90,000 if hardware equipment is roofing.
Overall, the American Bitcoin-Gryphon deal is expected to be completed during the third quarter of 2025. It remains to be seen what level of market interest American Bitcoin will generate when the deal is made.
