Trump-linked American Bitcoin raises $220M to purchase Bitcoin and mining rigs

Eric Trump-backed cryptocurrency company American Bitcoin has raised $220 million from private investors to purchase Bitcoin and expand its digital mining business. 

The news was disclosed in a June 30 filing reviewed by Bloomberg, which revealed that part of the equity sale, worth about $10 million, was transacted directly in Bitcoin (BTC) rather than U.S. dollars. Through the issuance of additional shares to private investors, American Bitcoin was able to raise $220 million for asset accumulation and mining expansion.

The capital raise marks a high-profile entry into the crypto space for the Trump-linked entity and reflects growing institutional confidence in digital asset markets. This comes as political momentum builds in the U.S. for pro-crypto regulation. 

President Donald Trump continues to promote crypto-friendly policies during his administration. His sons, Eric and Donald Jr., have both been involved in multiple blockchain ventures since their father’s time in office.

American Bitcoin was recently formed through a Trump-advised investment bank. As part of its launch, Hut 8 Corp. transferred its mining equipment to the new venture in exchange for an 80% equity stake. Hut 8, which operates mining sites in Alberta, New York, and Texas, plans to take American Bitcoin public via a merger with Gryphon Digital Mining Inc.

Bitcoin mining, central to American Bitcoin’s strategy, involves using specialized equipment to verify transactions on the blockchain in exchange for new BTC rewards. The new capital will be used to scale both Bitcoin purchases and infrastructure to support mining activities at a larger scale.

Hut 8 has also revealed plans to expand into Dubai. The company has filed paperwork with the Dubai International Financial Centre and is assembling a team there, although it said this move is unrelated to the American Bitcoin project.

The capital raise puts American Bitcoin on track to become one of the better-funded mining ventures in the U.S., combining political visibility with an aggressive acquisition strategy. With a public listing in sight, it may soon join the growing number of Bitcoin-focused companies trading on U.S. markets.