Gryphon Digital Mining is merging with American Bitcoin in September, causing shares to surge 231% since the announcement. American Bitcoin’s largest investor, Hut 8 CEO, confirmed the merger is set to be finalized soon, with trading starting in early September. The new entity will be named American Bitcoin, with Eric Trump and Donald Trump Jr. as founders.

Anchor investors for American Bitcoin include Cameron and Tyler Winklevoss from Gemini exchange. The company has been accumulating Bitcoin and purchasing mining equipment to grow its reserves. American Bitcoin is going public, following the trend of crypto companies like Circle and Bullish, which saw significant stock jumps post-IPO.

The shift in US digital asset policy has prompted more crypto companies to go public. President Donald Trump signed an executive order creating a national strategic Bitcoin reserve and the GENIUS Act regulating stablecoins. Bitwise predicted 2025 would be the year of crypto IPOs, with companies like Gemini and Kraken rumored to be preparing for IPOs.

Read more at Cointelegraph: Gryphon Stock Soars 231% Ahead of Coming American Bitcoin Merger