ABTC Coming to NASDAQ

The Trump boys' American Bitcoin is going public! The company will merge with Gryphon Digital Mining and then the combined entity will trade on the ticker ABTC.

Gryphon's latest 10-k has its history which includes:

Gryphon became a publicly held entity in February 2024 upon the completion of a reverse merger transaction (the “Merger”) with Akerna Corp.

Akerna provided software as a service (“SaaS”) solutions within the cannabis industry that enabled regulatory compliance and inventory management through several wholly-owned subsidiaries.

The cannabis history is in line with another recent bitcoin treasury merger, KindlyMD and Nakamoto.

It raises the question as to the quality of people rushing into the latest, hottest trend, cannabis (hash) turned into crypto (hash rate).  Compliance hardly seems like a strong suit for either industry.

Why American Bitcoin?  Eric.  Eric's Dad wants to build a Bitcoin Reserve within the Federal Treasury and American Bitcoin wants to help with that.

Why now?  Money is pouring into MAGA, crypto, and defi ETFs or separately managed funds.  Those vehicles need publicly traded stocks that qualify.  Thus the rush to form bitcoin treasury companies and for other listed firms to announce Trump memecoin treasuries.  

Even the Trump's TruthFi is selling that stuff.  So what does one get from buying American Bitcoin stock after the deal is completed in Q3?

A high leverage bitcoin mining pure play (that is merging with same).  Gryphon lost $17.7 million from operations in 2024, a slight improvement from 2023's loss of $19.1 million.

CNBC reported:

Existing stockholders of American Bitcoin, including the president’s two eldest sons, will own about 98% of the new entity.

That speaks to the power of relationships, especially father and sons.  

The Sons of Monarchy enrichment train is barreling full speed ahead.