Gryphon Digital Mining (GRYP) is nearing the completion of its merger with American Bitcoin, with the merged company aiming to start Nasdaq trading in early September under the ticker ABTC, Reuters reported Thursday, citing Hut 8 (HUT) Chief Executive Officer Asher Genoot.
Hut 8 holds an 80% stake in American Bitcoin, according to Reuters.
In May, American Bitcoin announced the go-public deal through a stock-for-stock merger, with American Bitcoin as the surviving entity. The transaction was expected to close as early as Q3 and American Bitcoin shareholders were expected to own about 98% of the merged company.
American Bitcoin and Gryphon did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)