American Bitcoin, a cryptocurrency venture backed by Eric Trump, son of US President Donald Trump, has raised $220 million to buy bitcoin and digital asset mining equipment, according to Bloomberg. The company issued new shares to private investors on Friday, with about $10 million of the equity sold in bitcoin rather than dollars.
American Bitcoin's main shareholder, Hut 8 Corp, plans to bring it to the public market through a merger with Gryphon Digital Mining Inc. Hut 8 has previously transferred its mining equipment to American Bitcoin in exchange for an 80% stake.
American Bitcoin Backed by Trump's Son Raises 220 million Dollars to Develop Bitcoin Mining Business
2025-07-01 01:33:22
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