TLDR
American Bitcoin raised $220M via private placement, including $10M paid in BTC.
The firm plans to buy bitcoin and mining equipment with $215M net proceeds.
Backed by Eric and Donald Trump Jr., American Bitcoin launched in March 2025.
A Nasdaq listing via SPAC merger with Gryphon Digital Mining is planned for 2025.
American Bitcoin, a mining company backed by Eric Trump and Donald Trump Jr., has raised $220 million through a private placement deal. The capital will be used to purchase bitcoin and new mining equipment, according to a recent regulatory filing made public on June 30.
The raise involved the issuance and sale of more than 11 million new shares to private investors. A portion of the transaction—worth approximately $10 million—was completed using Bitcoin instead of U.S. dollars, with the digital asset valued at $104,000 per coin at the time of sale.
Proceeds Target Bitcoin and Mining Infrastructure
The firm said the funds will support its Bitcoin acquisition and mining growth strategy. According to the filing, “The Company intends to use the net proceeds to fund its strategic and Bitcoin accumulation goals, which may include, but are not limited to, the purchase of Bitcoin and/or miners.”
After accounting for associated fees, American Bitcoin is left with around $215 million in net proceeds. The funding will allow the company to boost its holdings of bitcoin while also scaling its infrastructure through the acquisition of advanced mining hardware.
The funding round adds to the expanding interest among politically connected entities in digital assets. The firm’s direct investment in Bitcoin, paired with the purchase of mining machinery, positions it to increase its on-chain presence.
Trump Family’s Role in Crypto Business Expansion
American Bitcoin launched in March after a partnership between Hut 8 and American Data Centers, which counts Eric Trump and Donald Trump Jr. as investors. The collaboration has brought additional visibility to the Trump family’s involvement in crypto-related ventures.
President Donald Trump has spoken positively about digital assets during his 2024 campaign, indicating a desire to make the U.S. a leader in blockchain technology. The activities of American Bitcoin reflect a growing alignment between these public statements and private sector action.
According to the filing, Hut 8 is the majority stakeholder in American Bitcoin and has played a role in helping organize the capital raise. The deal also allows American Bitcoin to pursue broader business targets within the digital asset space.
Public Listing and SPAC Merger Plan
The company also confirmed its plans to become publicly listed later this year. American Bitcoin is expected to go public through a merger with Gryphon Digital Mining, a special purpose acquisition company. The merged firm will list on the Nasdaq under the ticker symbol ABTC.
The SPAC deal follows a pattern seen across the crypto sector, where firms use public listings to access larger pools of capital. With the Trump family’s involvement and the newly raised funds, American Bitcoin aims to expand its role in the U.S. mining sector.
No timeline has been shared for the completion of the SPAC transaction. However, the process is expected to be finalized in the second half of 2025, according to earlier announcements by Hut 8 and Gryphon Digital Mining.
Bitcoin Transactions and Market Positioning
The decision to accept $10 million in bitcoin during the private placement is also notable. It marks a growing trend among mining companies to directly transact in the assets they help secure. This approach reduces dependence on traditional finance while enabling a more flexible treasury strategy.
American Bitcoin has not disclosed how much bitcoin it plans to purchase using the newly acquired funds. However, the company’s model suggests a dual-track expansion—both in acquiring the digital asset and in scaling its mining capacity.
As the mining sector continues to adapt to halving cycles and rising network difficulty, access to new capital remains a key factor for expansion. With $220 million secured, American Bitcoin has positioned itself to pursue that path.
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