According to BlockBeats, on August 8, Bloomberg reported that Gemini co-founder and billionaire Winklevoss twins invested in a new cryptocurrency mining company associated with President Trump's two sons—Eric Trump and Donald Trump Jr. Asher Genoot, CEO of Miami's Hut 8, revealed that this investment is part of the private placement financing of American Bitcoin Corp.
The American Bitcoin Company was formed by merging the mining assets of Hut 8 with an investor entity that includes Donald Trump Jr., the son of U.S. President Donald Trump. The specific investment amount from the Winklevoss twins has not been disclosed. This investment comes against the backdrop of the Trump family's increasingly close relationship with the Winklevoss brothers. The twin brothers previously donated to President Trump's campaign and attended the digital asset summit held in March and the historic cryptocurrency legislative signing ceremony last month as guests of the White House.
During the earnings call on Thursday, Genoot stated that the private placement was 'oversubscribed' and revealed that the Winklevoss twins invested using Bitcoin. The company reported that the issuance raised approximately $220 million in cash and total Bitcoin proceeds.
