{"id":34794,"date":"2025-07-02T13:01:47","date_gmt":"2025-07-02T13:01:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34794"},"modified":"2025-07-02T13:01:47","modified_gmt":"2025-07-02T13:01:47","slug":"american-bitcoin-led-by-eric-trump-raises-220-million-to-boost-btc-holdings","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34794","title":{"rendered":"American Bitcoin, Led by Eric Trump, Raises $220 Million to Boost BTC Holdings"},"content":{"rendered":"
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American Bitcoin, backed by Eric Trump, raises $220 million to expand its Bitcoin mining operations and bolster its BTC treasury. A subsidiary of Hut 8 Mining, the company aims to go public via a merger with Gryphon Digital Mining, trading as ABTC on Nasdaq.<\/em><\/p>\n

Since 2024, top-tier investors and hedge fund managers have been unable to ignore Bitcoin and the potential of some of the <\/span>best cryptos to buy<\/span><\/a>. Undoubtedly, \"btcBTC \u25b20.75%<\/span><\/a> has been the top performer over the last decade, outpacing even some of the hottest stocks, including Palantir and Nvidia.<\/span><\/p>\n

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Amid the crypto boom, Wall Street investors have quickly adjusted their positions, funneling billions into crypto-linked public companies like Coinbase (COIN), Circle (CIRCL), and Robinhood (HOOD). <\/span><\/p>\n

Millions of dollars are also flowing into publicly listed crypto mining platforms, including Hut 8 and Marathon Digital.<\/span><\/p>\n

EXPLORE:\u00a0Top Solana Meme Coins to Buy in July 2025\u00a0<\/a><\/strong><\/p>\n

American Bitcoin Raises $220 Million to Expand Operations and Bolster Reserves<\/span><\/h2>\n

On June 30, American Bitcoin, a crypto mining and holding company backed by the Trump family, announced it had <\/span>raised<\/span><\/a> $220 million in a private stock sale. <\/span><\/p>\n

According to Eric Trump, the Chief Strategy Officer, $10 million worth of shares were purchased using Bitcoin at an average price of $104,000.<\/span><\/p>\n

The goal is to expand its Bitcoin mining operations and strengthen its Bitcoin Treasury. American Bitcoin is a subsidiary of Hut 8 Mining, a Bitcoin mining firm with operations in the United States.<\/span><\/p>\n

According to the latest data, Hut 8 Mining has an installed power capacity of 1,322 MW, generating over 7.5 EH\/s of Bitcoin hash rate. In late 2023, it merged with US Bitcoin. By January 2025, Hut 8 <\/span>held<\/span><\/a> 10,096 BTC, of which 9,106 BTC were mined and 990 BTC were purchased. The company also held $110 million in cash. By March 2025, its holdings increased to 10,264 BTC.<\/span><\/p>\n

American Bitcoin plans to go public through an all-stock merger with Gryphon Digital Mining. The entity will trade on Nasdaq under the ticker ABTC. Existing shareholders, including the Trump brothers and Hut 8, will retain 98% ownership of the new company.<\/span><\/p>\n

These rapid developments come just four months after Hut 8 partnered with the Trump brothers to launch American Bitcoin. <\/span><\/p>\n

In the deal, Hut 8 contributed nearly all its Bitcoin ASICs to American Bitcoin in exchange for 80% of the company\u2019s stock. It remains unclear whether the Trump brothers hold the remaining 20%.<\/span><\/p>\n