American Bitcoin, a Bitcoin mining firm affiliated with the Trump family, is set to go public through a reverse merger with Gryphon Digital Mining, Inc. The merged entity will trade under the ticker symbol ABTC upon closing. The merger values the company at approximately $350 million. This announcement is part of a broader trend of Bitcoin-focused ventures entering public markets. Gryphon Digital Mining is a known player in the Bitcoin mining industry, and this transaction marks a significant development for the Trump family's involvement in cryptocurrency mining. Additionally, another Bitcoin holding company, Nakamoto, led by David Bailey, is also pursuing a reverse merger, although details on that deal remain limited.
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
