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American Bitcoin, Backed by Eric and Donald Trump Jr, Pulls In $220M to Accumulate BTC
The company said $10 million of the total amount raised came in the form of bitcoin, at a rate of $104,000 per BTC.
Jul 1, 2025, 9:27 a.m.
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What to know:
- American Bitcoin Corp has raised $220 million from accredited investors, exceeding its $200 million target, with $10 million of the total coming in the form of bitcoin.
- The funds will be used to add bitcoin to its treasury and upgrade its mining equipment.
- The deal is part of a larger plan to bring American Bitcoin to public markets through a merger with Gryphon Digital Mining.
American Bitcoin Corp, a Miami-based mining company majority owned by Hut 8 (HUT) and backed by the Trump family, has raised $220 million from accredited investors, according to a filing with the U.S. Securities and Exchange Commission.
The raise topped its target of $200 million, and it also accepted about $10 million worth of bitcoin in lieu of cash, the filing details. The placement netted roughly $215 million after fees. The firm sold 11,002,954 Class A shares in total.
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The fresh capital will be used add bitcoin to the firm's treasury and upgrade its fleet of mining machines.
The sons of U.S. President Donald Trump, Eric and Donald Trump Jr, owned American Data Center, which merged with American Bitcoin. According to earlier reports, American Bitcoin is 80% owned by Hut 8, with the Trump brothers owning 20%.
In May, the firm announced it is vying a public listing by merging with Gryphon Digital Mining (GRYP). Hut 8’s share are down 0.86% in pre-market trading at $18.44.
Read more: Trump Family-Backed American Bitcoin to Go Public via Merger With Gryphon Digital
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