American Bitcoin backed by Trump's son raises $220 million to develop Bitcoin mining business "
Internet reports, Bloomberg reported that American Bitcoin, a cryptocurrency company backed by Eric Trump, son of U.S. President Trump, has raised US$220 million to purchase bitcoin and digital asset mining equipment. The company issued new shares to private investors on Friday, in which about $10 million of its stake was sold in Bitcoin rather than U.S. dollars. American Bitcoin's major shareholder Hut8 Corp plans to bring it to the public market through a merger with Gryphon Digital Mining Inc. Hut8 had previously transferred its mining equipment to American Bitcoin in exchange for an 80% stake.
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