American Bitcoin (ABTC), a newly public Bitcoin and cash mines company supported by Donald Trump Jr. and Eric Trump, opened its doors on Wednesday morning after finishing its merger with Gryphon Digital Mining (GRYP).
Lose shortly, the company has filed an increase in stocks to the market up to $ 2.1 billion with which continuing to build its Bitcoin (BTC) assets (which went to 2,443 pieces at the time of the merger).
The shares increased by $ 60% to a price of $ 6.90 at the time of the merger on Tuesday evening.
This is the last chapter of the rapid training of American Bitcoin, which started in March through a combination of the American data centers of the Trump brothers and the company of Canadian Mines Hut 8 (HUT). Hut 8 now has an 80% stake in the newly listed entity.
The activities of American Bitcoin combine the extraction of Bitcoin with a corporate cash approach centered on the accumulation of assets. Since its creation at the start of this year, the company has raised 2,443 Bitcoin, worth around 160 million dollars at current prices. This hybrid model – Bitcoin exploration while keeping it as a balance sheet asset – reflects strategies used by other high -level mining companies such as digital marathon.
