TL;DR
- American Bitcoin, backed by Eric Trump and Hut 8, closed a $220 million private raise, issuing 11 million shares, with $10 million paid in BTC, to fund its aggressive mining play.
- Proceeds will both beef up on-balance BTC reserves and acquire industrial-scale mining rigs, cementing its dual role as a hardware operator and digital asset holder.
- A stock-for-stock merger with Nasdaq-listed Gryphon Digital Mining paves the way for a public debut under ticker ABTC, while Hut 8 continues running day-to-day operations.
American Bitcoin, a recently established cryptocurrency company led by Eric Trump and supported by the mining powerhouse Hut 8, successfully wrapped up a significant $220 million private funding round last Friday. In a regulatory filing, the firm issued roughly 11 million new shares to institutional investors, marking one of the year’s most aggressive capital raises in the BTC mining space.
Notably, nearly $10 million of that haul came in BTC rather than cash, underscoring confidence in both the cryptocurrency’s staying power and the company’s mining roadmap.
A Strategic Blend of Bitcoin and Mining Gear
The newly generated funds will support two main goals: enhancing American Bitcoin’s on-balance Bitcoin reserves and acquiring industrial-grade mining equipment. Established in March as a majority-owned subsidiary of Hut 8, American Bitcoin is dedicated to large-scale mining activities and strategic cryptocurrency accumulation.
By converting a portion of its equity sale directly into BTC, the company signaled a dual-pronged growth strategy, staking its claim as both a digital asset holder and hardware operator in an environment where energy costs and equipment efficiency are crucial competitive factors.
Public Debut Plans Through Gryphon Merger
American Bitcoin isn’t stopping at private funding. It has signed a merger agreement with Gryphon Digital Mining, a miner listed on Nasdaq, to expedite its public listing. Under the stock-for-stock deal, Eric Trump and Donald Trump Jr., along with existing shareholders, will retain 98 percent of the combined entity, which will trade under the ticker “ABTC.”
Hut 8 will continue to oversee day-to-day mining activities, while the new public vehicle accelerates capital access and institutional visibility.
Looking Beyond: Global Expansion and Industry Impact
While American Bitcoin hones its U.S. industrial-scale footprint, spanning Canada, New York, and Texas, its parent, Hut 8, is simultaneously planting roots in Dubai’s crypto-friendly ecosystem. Although the Middle East push is separate from the Trump-linked venture, it highlights the broader mining sector’s pivot toward jurisdictions with favorable regulations and energy economics.
As publicly traded firms and savvy investors flock to Bitcoin for store-of-value and yield diversification, American Bitcoin’s aggressive expansion and high-profile backing position it to capture outsized market share in an increasingly competitive landscape.
