American Bitcoin, backed by Trump's son, raises $220 million to expand bitcoin mining operations
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American Bitcoin, backed by Trump's son, raises $220 million to expand bitcoin mining operations
According to Bloomberg, American Bitcoin, a cryptocurrency company backed by Eric Trump, son of U.S. President Donald Trump, has raised $220 million to purchase bitcoin and digital asset mining equipment. The company issued new shares to private investors last Friday, with about $10 million in equity sold in bitcoin rather than U.S. dollars. Hut 8 Corp, a major shareholder of American Bitcoin, plans to take it public through a merger with Gryphon Digital Mining Inc. Hut 8 previously transferred its mining equipment to American Bitcoin in exchange for an 80% stake.
Navigating Web3 tides with focused insightsTechFlow, July 1 — According to Bloomberg, American Bitcoin, a cryptocurrency company backed by Eric Trump, son of U.S. President Donald Trump, has raised $220 million to purchase bitcoin and digital asset mining equipment. The company issued new shares to private investors last Friday, selling approximately $10 million worth of equity in bitcoin rather than U.S. dollars.
Hut 8 Corp, the majority shareholder of American Bitcoin, plans to take the company public through a merger with Gryphon Digital Mining Inc. Hut 8 previously transferred its mining equipment to American Bitcoin in exchange for 80% ownership.
