Bitcoin mining firm Gryphon Digital Mining has announced a definitive agreement to merge with American Bitcoin Corp. in a stock-for-stock transaction, forming a new public company under the American Bitcoin name. The deal is expected to close by Q3 2025 and will result in Gryphon shareholders holding approximately 2% of the merged entity, with the remaining 98% owned by American Bitcoin stakeholders.

The combined company said it aims to become the most efficient Bitcoin mining firm in the w