Gryphon completes reverse merger with American Bitcoin Corp.; Hut 8 subsidiary gains ~80% voting control

American Bitcoin Corp.

On Sept 3, 2025, Gryphon merged with Historical ABTC; combined company renamed American Bitcoin Corp. and trades as ABTC.
Former ABTC stockholders received ~98% of combined company common stock; legacy Gryphon holders hold ~2%.
American Bitcoin Holdings LLC (Hut 8 subsidiary) holds 585.8M Class B shares with 10,000 votes each, ~80% voting power.
New board: Richard Busch, Justin Mateen, Michael Broukhim, Asher Genoot (Exec. Chairman), Michael Ho (CEO); Matt Prusak President & interim CFO.
Prior to merger, Gryphon effected a 5:1 reverse stock split; all pre-merger directors and officers resigned.

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