08:18 AM EDT, 05/12/2025 (MT Newswires) -- American Bitcoin, a majority-owned unit of Hut 8 ( HUT ) , an energy infrastructure platform that jumped 12% in U.S. pre-market trading on Monday, said it agreed to acquired by Gryphon Digital Mining in an all-stock deal.

The combined company will operate under the American Bitcoin brand and be led by American Bitcoin's management and board. Following the closing, the shares are the combined company are expected to trade on Nasdaq under the ticker symbol "ABTC." Existing American Bitcoin shareholders are expected to own nearly 98% of the combined company.

Hut 8 U.S.-listed shares were last seen up $1.64 at $15.53 in pre-market trading.