Gryphon shareholders will vote on merger with Bitcoin mining firm American Bitcoin on August 27.

PANews reported on August 1st that, according to The Miner Mag, American Bitcoin Corp (ABC), a Bitcoin mining company backed by the Trump family, is nearing completion of a confidential merger with Gryphon Digital Mining and listing on the Nasdaq. On July 31st, Gryphon filed a proxy statement with the U.S. Securities and Exchange Commission (SEC), formalizing the August 27th shareholder vote on the proposed merger. The SEC also declared the Form S-4 registration statement outlining the transaction effective, a key regulatory approval that clears the way for the transaction. The merger, first announced in May of this year, will see ABC merge with Gryphon, a Nasdaq-listed Bitcoin mining company under the ticker symbol "GRYP." To prepare for the transaction, ABC raised $220 million in private equity last month.