Ah, the fever dream of capitalism! American Bitcoin, a firm whispered to be blessed by the very touch of the Trump scions, Eric and Donald Jr., has, as of the sixth day of June, amassed a hoard of 215 Bitcoin. A paltry sum, perhaps, to those who dwell in gilded towers, but a king’s ransom nonetheless, nearly $24 million, since their grand opening on the first of April. April Fool’s, indeed! Or is it? 🤔
This company, formally known as ABTC, seeks to ascend to the public stage through a most curious union, a stock-for-stock marriage with Gryphon Digital Mining. A most peculiar arrangement! For, as the filing reveals, their approach is…unorthodox. Bitcoin ownership, you see, is not merely a byproduct of their mining endeavors; nay, it is the very essence of their being! A bold declaration, or a fool’s errand? Only time, that cruel mistress, will tell. ⏳
Their strategy, they claim, is “layered,” like some decadent pastry. They aim to produce Bitcoin at a cost below the market’s whim, to leverage capital like a seasoned gambler, and to actively meddle—I mean, participate—in the grand Bitcoin ecosystem. Such ambition! Such audacity! One almost admires their…naivete. 😇
Unlike those traditional miners, those toiling souls who build and maintain their own infrastructure, ABTC outsources its labor. A most modern approach, wouldn’t you say? Let others sweat and toil; they shall reap the rewards! A true testament to the spirit of…innovation? Or perhaps just laziness? 🤷
And this reserve of 215 BTC, nestled safely within the embrace of Coinbase Custody, is but a piece of their grand design. They intend to swell their holdings, you see, depending on the whims of the market and the availability of capital. A strategy as sound as it is predictable. Or is it? Perhaps there is a method to their madness…or perhaps just madness itself. 🤪
This approach, they say, echoes the grand strategy of Michael Saylor at MicroStrategy, a man who has inspired many a corporate accumulator. Imitation, they say, is the sincerest form of flattery. Or is it just a lack of imagination? 🤔
Upcoming merger
American Bitcoin, in their infinite wisdom, announced their merger with Gryphon Digital Mining in a stock-for-stock deal on the twelfth of May, in the year of our Lord 2025. Though Gryphon was the supposed acquirer, the shareholders of American Bitcoin seized control, claiming 98% ownership of the newly formed entity, which, naturally, retained the glorious name of American Bitcoin. A coup, perhaps? Or merely a clever bit of accounting? 🧐
Gryphon Digital Mining Announces Merger with American Bitcoin. Read the press release here: $GRYP @AmericanBTC
— Gryphon Digital Mining (@GryphonMining) May 12, 2025
Though ABTC employs but a single, solitary soul full-time, their ambitions soar beyond the mere efficiency of mining. By treating Bitcoin accumulation as their raison d’être and avoiding those pesky fixed costs, they aim to become a high-leverage proxy for BTC exposure. A bold claim! A dangerous game! But who am I to judge? I am but a humble observer, a chronicler of the absurd. ✍️
The company planned to become the largest pure-play Bitcoin miner and seek a Nasdaq listing under the ticker ‘ABTC.’ A dream, perhaps? Or a delusion? Only time will tell, my friends. Only time will tell. 🤡
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2025-06-10 20:15