Gryphon Digital Mining, Inc. announced that its shareholders have approved a merger with American Bitcoin in a stock-for-stock transaction. The decision was made during a special meeting of stockholders on August 27, 2025.
The deal will also bring a 5-for-1 reverse stock split, allowing the company to meet Nasdaq’s listing requirements. The new combined company will begin trading under the ticker “ABTC” once the transaction closes.
Reverse Stock Split Details
The reverse stock split will take effect on September 2, 2025, at 5:00 p.m. Eastern Time. At that point, every 5 shares of Gryphon common stock will automatically be combined into a single share.
No fractional shares will be issued, with any leftover amounts rounded up to the nearest whole share.
The move will reduce Gryphon’s outstanding common shares from about 82.8 million to roughly 16.6 million.
Importantly, the split does not change the company’s overall market capitalisation or the proportional ownership held by existing investors. It only adjusts the share count to meet Nasdaq’s minimum bid price requirement.
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Impact on Warrants and Equity Awards
The reverse split will affect the common stock as well as equity awards and warrants. There will be proportional adjustments to maintain the value and terms of existing stock options and warrants to be neutral with respect to change.
No action will be necessary on the part of stockholders to account for the adjustment because it will be done automatically.
Board and Shareholder Approval
The company’s shareholders had already approved a potential reverse stock split earlier in May 2025. On August 22, 2025, the board formally approved the 5-for-1 ratio.
Registered shareholders holding uncertificated shares will automatically see their holdings updated. Those holding physical share certificates will receive instructions from the transfer agent, Continental Stock Transfer & Trust Company.
Investors with brokerage accounts will also see their positions updated automatically based on their broker’s process.
American Bitcoin’s Role
American Bitcoin Corp., a majority-owned subsidiary of Hut 8 Corp., will serve as the operating entity after the merger.
The company is focused on large-scale Bitcoin mining and developing strategic Bitcoin reserves.
Market Reaction
Market confidence in the deal and the company’s long-term growth prospects has driven Gryphon’s stock price up 18% since the announcement. At press time, it’s trading at $1.54, up from $1.30 in just 2 days, and has a global market cap of $127.51 million.
Additionally, the transaction enables Gryphon to gain better market positioning while paving the way for American Bitcoin to be a major player in industrial-scale mining.
These types of deals show the growing importance of Bitcoin in the American market and have a global impact.
Also Read: BitBridge Completes Merger Before Going Public, To Trade Under Ticker BTTL On Nasdaq