Hut 8's Gryphon deal sees stockholders begin voting

Executive Summary

• Gryphon Digital Mining Inc. has commenced stockholder voting for a proposed stock-for-stock merger with American Bitcoin Corp., a majority-owned subsidiary of Hut 8 Corp.
• Upon closing, the combined entity will operate under the American Bitcoin brand, led by American Bitcoin’s management and board, and is expected to trade on Nasdaq under the ticker symbol ABTC.
• The transaction is targeted to close in early September 2025, contingent upon Gryphon stockholder approval at a special meeting scheduled for August 27, 2025, and the satisfaction of customary closing conditions.

Key Details

• Transaction Structure: Stock-for-stock merger between American Bitcoin Corp. (parent: Hut 8 Corp.) and Gryphon Digital Mining Inc.
• Post-Merger Operations: The combined company will retain the "American Bitcoin" brand name.
• Leadership: The combined company will be led by the existing management and board of directors of American Bitcoin.
• Ticker Symbol: The combined company is expected to trade on Nasdaq under the ticker symbol ABTC.
• Targeted Closing Date: Early September 2025.
• Voting Record Date: Gryphon stockholders who owned shares as of July 25, 2025, are eligible to vote.
• Special Meeting Details:
  • Date: Wednesday, August 27, 2025.
  • Time: 10:00 a.m. Eastern Time.
  • Format: Virtual (unless postponed or adjourned).
• Board Recommendation: The board of directors of Gryphon unanimously recommends that stockholders vote for each of the proposals to be considered at the special meeting.
• Proxy Materials: The definitive proxy statement/prospectus was filed with the SEC on July 31, 2025, and mailed to stockholders on or about August 1, 2025.
• Proxy Solicitor: Okapi Partners LLC (Contact: 855-305-0857 or [email protected]).

Notable Quotes

• None explicitly quoted in the text, though the Gryphon board's unanimous recommendation is stated as a factual position.