American Bitcoin, Backed by Trump’s Son, Raises $220 Million to Expand Bitcoin Mining Operations
Odaily Planet Daily reported that American Bitcoin, a cryptocurrency company backed by Eric Trump, son of former U.S. President Donald Trump, has raised $220 million to purchase Bitcoin and digital asset mining equipment. Last Friday, the company issued new shares to private investors, with approximately $10 million worth of equity sold in Bitcoin rather than U.S. dollars.
American Bitcoin’s major shareholder, Hut 8 Corp, plans to take the company public through a merger with Gryphon Digital Mining Inc. Previously, Hut 8 transferred its mining equipment to American Bitcoin in exchange for an 80% equity stake. (Bloomberg)
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