Nasdaq-listed U.S. bitcoin miner Gryphon Digital Mining has agreed to acquire American Bitcoin, a company backed by Eric Trump and Donald Trump Jr. that was spun out of Miami, Fla.-based Hut 8 in March. (The Logic)

Talking point: Hut 8 was Canada’s most prominent bitcoin mining company, based in Toronto before redomiciling in 2023. It maintains operations in Ontario and B.C. In March, it traded the majority of its bitcoin mining operations for an 80 per cent stake in the Trump brothers’ company American Data Centers, changing the name of the firm to American Bitcoin. In a release, Hut 8 CEO Asher Genoot said the merger will help American Bitcoin go public quickly. Gryphon will own two per cent of American Bitcoin following the all-stock deal, which it expects to close in the third quarter of 2025. Gryphon’s stock—which had lost 66 per cent of its value over the past year—surged 224 per cent by early afternoon Monday.