
American Bitcoin, spearheaded by Eric Trump, secures $220 million to enhance Bitcoin assets
American BTC, with Eric Trump as a supporter, has raised $220 million to enhance its BTC mining ventures and increase its BTC reserves. As a subsidiary of Hut 8 Block rewards, the firm intends to go public through a merger with Gryphon Digital Crypto mining, listed as ABTC on Nasdaq.
Since 2024, high-profile investors and hedge fund executives have been compelled to pay attention to Bitcoin and the opportunities presented by some of the top cryptos to buy. It’s clear that Bitcoin ▲0.75% has emerged as the leading asset over the past ten years, outperforming even some of the most sought-after stocks like Palantir and Nvidia.
In the midst of the crypto surge, Wall Street investors have swiftly repositioned their investments, pouring billions into crypto-related public companies such as Coinbase (TOKEN), Circle (CIRCL), and Robinhood (HOOD).
Considerable amounts of capital are also being directed into publicly traded cryptocurrency block rewards firms, including Hut 8 and Marathon Digital.
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American BTC Secures $220 Million for Operational Growth and Reserve Enhancement
On June 30, American BTC, a mining and holding entity supported by the Trump family, revealed it had secured $220 million through a private stock transaction.
Eric Trump, the Chief Strategy Officer, stated that shares worth $10 million were acquired using BTC at an average cost of $104,000.
The objective is to enhance its Bitcoin mining capabilities and fortify its BTC Treasury. American BTC operates as a subsidiary of Hut 8 Block rewards, a BTC crypto mining company based in the United States.
Current figures indicate that Hut 8 Crypto mining boasts a power capacity of 1,322 MW, providing over 7.5 EH/s of BTC hash rate. In late 2023, it merged with US Bitcoin. By January 2025, Hut 8 possessed 10,096 BTC, comprised of 9,106 Bitcoin mined and 990 Bitcoin acquired. The company also held $110 million in liquid assets. By March 2025, its reserves grew to 10,264 BTC.
American Bitcoin is set to enter the public trading market through an all-stock merger with Gryphon Digital Crypto mining. It will be traded on Nasdaq under the ticker ABTC. Current stakeholders, including the Trump siblings and Hut 8, will maintain 98% ownership of the resulting organization.
These swift advancements follow just four months after Hut 8 aligned with the Trump brothers to establish American BTC.
In the arrangement, Hut 8 contributed almost all of its Bitcoin ASICs to American Bitcoin in return for 80% of the company’s equity. It remains uncertain if the Trump brothers possess the remaining 20%.
In a press news, Eric Trump remarked that BTC mining, aided by “favorable economics, unlocks a greater potential.”
“From the beginning, we’ve supported our belief in Bitcoin—both personally and through our ventures. However, merely acquiring BTC is only part of the equation. Mining it with favorable economics reveals an even larger opportunity. We are eager to introduce investors into this strategy via a protocol designed to capitalize on this thesis and provide real, tangible participation in Bitcoin’s expansion.”
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Guided by Strategy
Clearly, American Bitcoin is adhering to Strategy’s model. Previously known as MicroStrategy, Strategy has been rapidly amassing Bitcoin independent of trading market fluctuations and aims to raise $2.5 billion to procure additional BTC.
Recent statistics reveal that Strategy holds 597,325 BTC, positioning it as the largest public BTC treasury globally, possessing more than 10 times the reserves of Mara Holdings and over 50 times that of Tesla.
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Alongside BTC mining, the Trump family is heavily engaged in the crypto sector. As per Arkham data, their World Liberty Financial Decentralized finance protocol currently oversees assets worth over $180 million, mainly in Ethereum (Ethereum).
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Donald and Melania Trump also introduced several of the leading Solana meme coins in January, though their values have plummeted, falling by more than 60% from peak levels.
Senator Elizabeth Warren contends that their engagement in crypto asset poses conflicts of interest, especially given the Trump administration’s favorable stance towards crypto.
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American Bitcoin Secures $220M for BTC Crypto mining Expansion
- American BTC acquires $220 million to increase operations and enhance Bitcoin holdings
- American Bitcoin aims for Nasdaq listing as ABTC
- Hut 8 Crypto mining owns a significant stake in American Bitcoin
- The Trump family is significantly involved in crypto and Decentralized finance
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