Trump’s Bitcoin Mining Venture to Go Public in Gryphon Deal (1)

A Bitcoin-focused venture tied to the Trump family is to go public as part of a merger agreement with Gryphon Digital Mining.

American Bitcoin Corp., which is majority owned by Hut 8 Corp. and partly backed by Eric Trump and Donald Trump Jr., will be acquired by Gryphon in an all stock merger transaction, Hut 8 said in a statement Monday. Shares of Gryphon jumped as much as 460% to $2.93, while Hut 8 increased 17% to $16.31.

Launched in March, American Bitcoin is focused exclusively on Bitcoin mining and strategic Bitcoin reserve development. The company was formerly known ...