Trump-Backed American Bitcoin (ABTC) Begins Trading Today After Gryphon Merger
· Stocks · MarketsFN Team
September 3, 2025 — Gryphon Digital Mining, Inc. has completed its transformational merger with American Bitcoin Corp. (ABTC), which is backed by Donald Trump Jr., Eric Trump, and Hut 8. Effective today, the combined entity begins trading on Nasdaq under the ticker ABTC, entering the market with a rebranded identity and a fresh financial profile.
Ownership & Market Launch
- Merger Structure: Executed via a two-step reverse-merger mechanism. Legacy ABTC shareholders now command approximately 98% of the fully diluted equity, with legacy Gryphon shareholders holding the remaining 2%.
- Today’s Debut: The company, now renamed American Bitcoin Corp., opens trading today—giving public markets their first look at this Trump-backed Bitcoin accumulation and mining entity.
Key Financial Highlights (H1 2025)
Below is a snapshot of Gryphon’s latest reported financials for the six months ended June 30, 2025:
| Metric | Value (H1 2025) |
|---|---|
| Cash & Cash Equivalents | $678,000 |
| Digital Assets (e.g., BTC) | $917,000 |
| Weighted Avg. Shares Outstanding (Basic & Diluted) | ~75.99 million shares |
These figures reflect liquidity that is modest—but strategically meaningful. Cash and digital-asset holdings provide a foundational buffer, while equity structure underscores a ready path to raise capital if needed.
Incentive & Share Authorization Strategy
- 2025 Omnibus Incentive Plan enables grant of stock options, RSUs, performance awards and more—capped at 20% of fully diluted shares, with annual refreshes through 2035 to maintain that threshold.
- Authorizations Approved:
- Up to 735 billion total shares across multiple classes (A, B, C common stock and preferred).
- A multi-tiered voting structure gives Class B shareholders outsized influence (10,000 votes per share) and positions current insiders for continued control.
- Broader authorization allows room for future financings, acquisitions, or incentive issuances.
Strategic Financial Outlook
1. Capital and Balance Sheet
While cash and digital assets are under $2 million combined, the massive share authorization pool creates flexibility for equity financings—potentially fueling mining expansion or strategic M&A.
2. Shareholder Alignment & Governance
The 20% incentive reserve aligns team incentives with investor returns, while the dual-class structure ensures strategic control remains consolidated in core stakeholders, including Trump-backed interests.
3. Investor Appeal
ABTC positions as a regulated, stock-based gateway to Bitcoin exposure, blending mining revenue with asset accumulation—ideally tailored for institutional and retail investors seeking exposure without directly holding cryptocurrency.
4. Liquidity Considerations
The weighted average share base (~76 million shares) establishes a foundation for meaningful trading volumes—though actual float and tradability will depend on lock-up terms and insider holdings.
Conclusion
As American Bitcoin Corp. begins its first day of trading under the ticker ABTC, it presents itself as a modern crypto stakeholder: equity-legitimized Bitcoin accumulation, backed by powerful branding and a flexible capital structure. With modest starting liquidity, a lean operations base, and ample equity authorization, the narrative centers on growth potential and structured governance. For investors, the company stands at the confluence of politics, finance, and digital assets—scoping now whether scale can translate into sustainable returns.