American Bitcoin eyes September market entry
American Bitcoin, a Bitcoin mining company backed by Eric Trump and Donald Trump Jr., plans to start trading on Nasdaq in early September. The company will merge with Gryphon Digital Mining in an all-stock deal to reach the public market.
After the merger closes, ownership will be highly concentrated. Eric Trump, Donald Trump Jr., and Hut 8 will control 98% of the combined company. The remaining 2% will be held by other shareholders.
Asher Genoot, CEO of Hut 8, explained why they chose a merger over a direct IPO. He said the merger provides better financing options because Gryphon already has access to various funding sources. Genoot made these comments at a crypto conference in Hong Kong while meeting with potential investors.
Asher Genoot, CEO of Hut 8, explained why they chose a merger over a direct IPO. He said the merger provides better financing options because Gryphon already has access to various funding sources. Genoot made these comments at a crypto conference in Hong Kong while meeting with potential investors.
American Bitcoin is looking beyond the U.S. market. Eric Trump traveled to Hong Kong and plans to visit Tokyo for an event at Metaplanet, a Japanese Bitcoin treasury company. Genoot said they are considering acquisitions and investments in Asia, including Hong Kong and Japan. These talks are still in early stages.
The company wants to provide access to Bitcoin investments in markets where buying U.S. stocks is difficult due to local regulations. This strategy could help them tap into Asian capital markets.
The Bitcoin mining industry is consolidating, and established miners are changing their business models. Hut 8 has shifted from pure crypto mining to energy infrastructure and data centers. The company says this approach supports larger-scale BTC mining operations.
Gryphon Digital Mining brings existing mining capacity and a pathway to public listing. The merger partners say this combination will speed up access to both stock and debt financing after the public debut.
Anchor investors for the listing have already been secured, according to the backers. The immediate focus will be on raising capital and exploring potential deals in Asia.
The company wants to provide access to Bitcoin investments in markets where buying U.S. stocks is difficult due to local regulations. This strategy could help them tap into Asian capital markets.
The Bitcoin mining industry is consolidating, and established miners are changing their business models. Hut 8 has shifted from pure crypto mining to energy infrastructure and data centers. The company says this approach supports larger-scale BTC mining operations.
Gryphon Digital Mining brings existing mining capacity and a pathway to public listing. The merger partners say this combination will speed up access to both stock and debt financing after the public debut.
Anchor investors for the listing have already been secured, according to the backers. The immediate focus will be on raising capital and exploring potential deals in Asia.
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