Trump-Backed American Bitcoin Raises $220 Million to Buy BTC and Mining Gear

2025-07-01 22:43:23

American Bitcoin, a crypto venture backed by Eric Trump, has raised $220 million from private investors to purchase bitcoin and mining equipment, with plans to go public via a merger with Gryphon Digital Mining.

Crypto Firm American Bitcoin Goes Big With New Raise Amid Plans for Public Listing

A crypto venture connected to the Trump family has raised $220 million to expand its digital asset mining operations, according to a recent regulatory filing. American Bitcoin, whose backers include Eric Trump, issued new shares to private investors last week, approximately $10 million of which were reportedly sold in exchange for bitcoin.

The company is majority-owned by Hut 8 Corp., one of North America’s largest crypto mining firms, which contributed its mining equipment in return for an 80% stake. American Bitcoin plans to go public through a merger with Gryphon Digital Mining Inc., marking another move to bring bitcoin mining into the traditional public markets.

This effort is part of a broader wave of Trump-affiliated ventures tapping into crypto enthusiasm. Both Eric Trump and Donald Trump Jr. have recently supported blockchain initiatives, as their father signals ambitions to position the U.S. as a global crypto leader.

The capital raised will fund both bitcoin purchases and mining infrastructure, underscoring American Bitcoin’s intent to scale aggressively amid a renewed bull market. While Hut 8 is also pursuing separate expansion into Dubai, its role in American Bitcoin reflects a growing trend of using established traditional systems to drive crypto growth.

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