American Bitcoin, a company backed by two sons of US President Donald Trump, has raised significant funds to expand its operations in the Bitcoin sector.
American Bitcoin's Fundraising
The company has raised $220 million to purchase Bitcoin and mining equipment. This financing was achieved through the issuance and sale of over 11 million new shares to private investors last week, with approximately $10 million raised through Bitcoin at a rate of $104,000 per Bitcoin.
Company Strategy and Goals
American Bitcoin intends to use the proceeds to fund its strategic objectives and Bitcoin accumulation goals, which may include purchasing new assets and mining equipment. The company is confident that these investments are necessary for successful market development.
Plans for Nasdaq Listing
American Bitcoin was co-founded by Eric Trump and Hut8. The company aims to go public on Nasdaq through a merger with Gryphon Digital Mining, a listed company. Existing shareholders, including Eric Trump and his brother Donald Trump Jr., will retain 98% of shares in the new entity.
American Bitcoin is making significant strides in expanding its Bitcoin operations, supported by influential figures and plans for a stock market debut.
