American Bitcoin, a Bitcoin mining company invested by the Trump family, announced that it recently successfully raised $220 million, which will be used to purchase Bitcoin and cryptocurrency mining equipment.
American Bitcoin was established in March of this year, jointly funded by the listed miner Hut 8 (HUT) and American Data Centers led by the Trump family, whose shareholders include Trump’s eldest son Donald Trump Jr. and his second son Eric Trump.
According to the recent regulatory documents submitted by Hut 8, American Bitcoin raised approximately $220 million last Friday through a private placement, issuing over 11 million new shares to specific investors, with $10 million worth of shares paid directly in Bitcoin, based on the price of $104,000 per Bitcoin at that time.
After deducting related expenses, American Bitcoin's actual net funds amount to approximately $215 million. Hut 8 explicitly stated in the document that this fund will be used to achieve the company's strategy and the goal of 'accumulating Bitcoin', which may include but is not limited to purchasing Bitcoin and/or mining equipment.
It is worth mentioning that American Bitcoin has planned to go public in the second half of the year by merging with another mining company, Gryphon Digital Mining, and will be listed on Nasdaq under the stock symbol 'ABTC'.
This article is authorized for reprint from: (Block Guest)
Original title: (Trump son's mining company American Bitcoin raised $200 million for purchasing Bitcoin and mining equipment)
Original author: Block Guest AI
'Trump son's mining company raised $200 million! Used to buy Bitcoin and equipment, plans to go public in the second half of the year' This article was first published on 'Crypto City'.
