Gryphon Digital Mining is experiencing a remarkable surge in its stock price, which has increased by 231% since the announcement of its impending merger with American Bitcoin, set for September. Following a 42.1% jump in shares on Thursday, the price rose from $1.35 to $1.75. This merger, primarily stock-based, is expected to close soon, with trading slated to begin in early September. Eric Trump and Donald Trump Jr., the founders of American Bitcoin, along with Hut 8, will control 98% of the new entity. The merger is part of a broader trend in which several crypto firms are going public, prompted by a more favorable regulatory environment in the U.S. Recent laws signed by President Trump have provided clearer guidelines surrounding digital assets, enabling firms like Circle and Bullish to complete their own initial public offerings (IPOs). With American Bitcoin also looking to expand through acquisitions, the merger with Gryphon represents a significant shift in the cryptocurrency landscape.

Source 🔗