American Bitcoin, a crypto mining firm backed by Eric Trump and Donald Trump Jr., has raised $220 million in private funding to support its ambitious Bitcoin accumulation and infrastructure plans. The capital will be used to purchase Bitcoin and mining equipment, as the company prepares for a public market debut later this year.
$220 Million Raised Through Private Share Placement
According to a recent SEC filing, American Bitcoin sold over 11 million new shares in a private placement on Friday, securing $220 million from institutional investors. Notably, approximately $10 million worth of shares were purchased with Bitcoin rather than cash, at an exchange rate of $104,000 per BTC.
After deducting fees, the company reported net proceeds of $215 million.
Proceeds to Fund Strategic Bitcoin Accumulation
In its filing, American Bitcoin stated that the funds will be used to support the company’s strategic and Bitcoin accumulation goals, including:
- Purchasing Bitcoin directly
- Expanding mining operations with new hardware
- Supporting long-term digital asset infrastructure growth
The move highlights a dual strategy of asset accumulation and hardware scaling at a time when institutional demand for Bitcoin continues to grow.
Trump Family Deepens Crypto Ties Through American Bitcoin
Launched in March 2025, American Bitcoin was formed through a partnership between Hut 8 and American Data Centers, a firm tied to the Trump family. The company’s founding aligns with Donald Trump’s broader objective to establish U.S. dominance in blockchain innovation and digital assets.
This development marks another significant step in the Trump family’s growing involvement in the crypto sector.
SPAC Merger and Public Listing Planned for Late 2025
American Bitcoin plans to go public in H2 2025 via a SPAC merger with Gryphon Digital Mining. Upon completion, the company will trade on Nasdaq under the ticker symbol ABTC.
This upcoming listing positions American Bitcoin to become a major public player in the U.S. Bitcoin mining space.
Outlook
Backed by political influence and strategic capital, American Bitcoin is rapidly building momentum as a vertically integrated crypto mining and asset-holding firm. With $220 million in fresh funding, a public listing ahead, and a focus on Bitcoin-first strategy, the company is poised to become a key player in the evolving digital asset economy.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.