Trump-Backed American Bitcoin Raises $220 Million to Buy BTC and Mining Gear
2025-07-01 22:54:31
Main Idea
Trump-backed American Bitcoin has raised $220 million to purchase BTC and mining equipment, with plans to go public via a merger with Gryphon Digital Mining.
Key Points
1. American Bitcoin, supported by Eric Trump, raised $220 million, including $10 million in bitcoin from private investors.
2. The company is majority-owned by Hut 8 Corp., a major North American mining firm with an 80% stake.
3. American Bitcoin aims to go public through a merger with Gryphon Digital Mining.
4. Both Eric Trump and Donald Trump Jr. have recently endorsed blockchain initiatives amid a crypto bull market.
5. Hut 8 is expanding into Dubai, reflecting a trend of leveraging traditional systems to drive crypto growth.
Description
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
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