American Bitcoin, linked to Eric Trump and Donald Trump Jr., has taken a significant step in developing its business and investment in cryptocurrency.
Investment Attraction
American Bitcoin has raised $220 million by selling over 11 million shares to private investors. Notably, a portion of the shares—worth roughly $10 million—was purchased using Bitcoin at a valuation of $104,000 per coin, highlighting strong interest from crypto investors in this offering.
Future Plans
According to the company's statements, the new capital will support infrastructure expansion and its growing Bitcoin treasury, including potential purchases of additional mining equipment and direct Bitcoin acquisitions.
Context and Support for Cryptocurrency
American Bitcoin was founded through a collaboration between Eric Trump and publicly traded mining firm Hut 8. The company is 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 98% of the merged entity. This move comes as Donald Trump continues to position himself as a supporter of the digital asset space during his ongoing presidential campaign.
The significant investment raised by American Bitcoin reflects the growing interest in cryptocurrencies and support from influential political figures. The merger with Gryphon Digital Mining could be an important step in the company's development.
