Gryphon Digital Mining is seeing a major stock surge as it prepares to merge with Trump-linked American Bitcoin in September. Since the merger announcement in May, Gryphon’s shares have soared 231%, and on August 28, jumped 42.15%, to $1.75 from $1.35, according to Google Finance.
The merger will be an all-stock deal, with the new company retaining the name American Bitcoin. Founders Eric Trump and Donald Trump Jr., along with Hut 8, will hold 98% of the combined entity. Hut 8 CEO Asher Genoot told Reuters that the deal is expected to finalize soon, with trading set to start in early September.
American Bitcoin Builds Bitcoin Treasury
American Bitcoin has been quietly building a Bitcoin treasury while acquiring mining equipment. The firm is also considering an Asian acquisition to continue increasing its Bitcoin assets. The Gemini Co-Founders, Cameron and Tyler Winklevoss, are also key anchor investors.
Crypto IPO Boom in the US
The merger is a part of a wider trend of crypto companies going public in the US. The IPO of Circle in June 2025 witnessed its stock soaring 434% when it debuted and Peter Thiel-backed Bullish also surged 218% in August. Other firms such as Gemini and Kraken are said to be getting ready for IPO.
This trend follows a shift in US crypto policy. President Donald Trump signed an executive order to create a national strategic Bitcoin reserve earlier this year and, later, in July, the GENIUS Act to regulate stablecoins.
With Gryphon and American Bitcoin leading the charge, the US crypto market is entering a new era of growth and public investment, making it a hot space for investors looking for exposure to Bitcoin and blockchain technology.
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