American Bitcoin, backed by Trump's son, raises $220 million to develop Bitcoin mining business

Odaily News American Bitcoin, a cryptocurrency company backed by Eric Trump, son of U.S. President Donald Trump, has raised $220 million to buy bitcoin and digital asset mining equipment. The company issued new shares to private investors last Friday, with about $10 million of the shares sold in bitcoin rather than dollars.
Hut 8 Corp, the main shareholder of American Bitcoin, plans to take it to the public market through a merger with Gryphon Digital Mining Inc. Hut 8 has previously transferred its mining equipment to American Bitcoin in exchange for an 80% stake. (Bloomberg)