American Bitcoin raises $220 million for Bitcoin mining
Bitcoin and Trump. The mining company American Bitcoin recently made headlines due to its ties with the Canadian giant Hut 8. An operation that raised many questions, given its proximity to the Trump family. But also in relation to this structure's stated desire to become the global leader in the sector. At the same time, it has just raised $220 million to expand its operations.
American Bitcoin raises $220 million
The cryptocurrency mining sector is undergoing significant changes. This particularly concerns the Bitcoin network, whose miners are already preparing for the next halving scheduled for May 2028.
An activity whose profitability increasingly requires financial means. This is why certain structures like American Bitcoin decide to raise funds to support their development.
Indeed, this mining company, mostly owned by Hut 8, has just raised $220 million in a private placement. This is to finance the purchase of mining equipment and strengthen its cash reserves in BTC.
However, this amount also includes a transaction of $10 million conducted directly in Bitcoin. With an average acquisition price of $104,000/BTC.
The company American Bitcoin continues its development. And this despite the controversies associated with its ties to the Trump family. For, at the same time, it is preparing to merge with Gryphon Digital Mining to become a publicly traded company.
