Hut 8 and American Bitcoin Prepare for Merger with Gryphon

Hut 8 and American Bitcoin Initiate Gryphon Voting Process

Gryphon stockholders are now invited to participate in the voting process regarding a pivotal merger transaction involving American Bitcoin Corp. and Gryphon Digital Mining, Inc. This voting initiative is set against the backdrop of a noteworthy stock-for-stock merger that reflects the strategic intentions of Hut 8 Corp. (Nasdaq | TSX: HUT), which owns the majority stake in American Bitcoin.

Unanimous Recommendation from the Board

The board of directors for Gryphon has unanimously advised stockholders to vote “FOR” all proposals associated with the merger. This recommendation underscores the confidence in the transaction's potential benefits and the future trajectory of both companies.

Details of the Merger Transaction

Once the merger is finalized, the resulting entity will adopt the American Bitcoin name and operate under the management team from American Bitcoin. This strategic union promises to enhance their capabilities and market presence significantly.

Trading Plans Post-Merger

After the merger is completed, the new company is expected to trade on the Nasdaq under the ticker symbol "ABTC," with plans to finalize the transaction in early September. This transition hinges on the successful voting outcome from Gryphon's stockholders.

How to Vote for Gryphon Stockholders

If you're a Gryphon stockholder holding shares as of the designated cut-off date, you have the opportunity to cast your vote in advance of the upcoming special meeting. Scheduled for late August, this meeting will provide a platform for stockholders to express their preferences regarding the merger.

Voting Instructions

Gryphon stockholders will find comprehensive instructions on voting within the definitive proxy statement/prospectus related to the merger, which can be accessed through the special online portal. Your participation is crucial, as every vote counts in shaping the future of the company.

Contact Information for Assistance

If you encounter any uncertainties or require assistance regarding the voting process, you can reach out to Okapi Partners, the proxy solicitor for Gryphon. They are equipped to guide you through the voting process effectively.

About Hut 8 Corp.

Hut 8 Corp. stands at the forefront of energy infrastructure focusing on power efficiency, digital innovation, and large-scale computing. The firm plays a pivotal role in energy-intensive fields such as Bitcoin mining and high-performance computing, leveraging 1,020 megawatts of energy capacity across multiple locations in North America.

Overview of American Bitcoin

As a majority-owned subsidiary of Hut 8, American Bitcoin is dedicated to industrial-scale Bitcoin mining. By leveraging Hut 8’s operational expertise and financial management capabilities, American Bitcoin aims to solidify its position in the crypto landscape.

Insight on Gryphon Digital Mining

Gryphon Digital Mining Inc. is pioneering innovative approaches in the Bitcoin mining arena, positioning itself as a notable entity in the sector. The strategic merger with American Bitcoin is anticipated to amplify its capabilities and foster growth in the increasingly competitive market.

Frequently Asked Questions

What is the significance of the merger between Hut 8 and Gryphon?

This merger aims to consolidate resources and expertise in Bitcoin mining, enhancing operational capabilities and market competitiveness.

How can Gryphon stockholders participate in the voting process?

Gryphon stockholders must vote in advance of the special meeting scheduled for late August. Detailed instructions are provided in the proxy statement available online.

What will be the new ticker symbol post-merger?

The combined entity will trade under the ticker symbol "ABTC" on Nasdaq after the transaction is completed.

When is the merger expected to close?

The merger is targeted to close in early September, pending stockholder approval.

Who should I contact for voting assistance?

For assistance, stockholders can reach out to Okapi Partners, the proxy solicitor for Gryphon, for support and guidance on the voting process.

About The Author

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