Trump-Linked Mining Venture Raises $220M to Expand Bitcoin Holdings

Bitcoin

Trump-Linked Mining Venture Raises $220M to Expand Bitcoin Holdings

A Bitcoin mining firm backed by members of Donald Trumps family has secured a massive funding round to ramp up its cryptocurrency operations, including direct Bitcoin acquisitions.

According to Bloomberg, American Bitcoin, a company tied to Eric Trump and Donald Trump Jr., has raised $220 million by selling over 11 million new shares to private investors.

Notably, a portion of the shares—worth roughly $10 million—were purchased using Bitcoin at a valuation of $104,000 per coin, highlighting strong crypto-native interest in the offering.

The company stated that the fresh capital will support both infrastructure expansion and its growing BTC treasury, including potential purchases of additional mining equipment and direct Bitcoin acquisitions.

Founded through a collaboration between Eric Trump and publicly traded mining firm Hut 8, American Bitcoin is now preparing for a public debut via an all-stock merger with Gryphon Digital Mining, which is already listed on the Nasdaq. If approved, the deal would see existing shareholders—Eric Trump, Donald Trump Jr., and Hut 8—retain a commanding 98% of the merged entity.

The move comes as Donald Trump continues to position himself as a supporter of the digital asset space during his ongoing presidential campaign, aligning with broader GOP interest in making the U.S. more crypto-friendly.