Bloomberg reported that American Bitcoin, backed by the sons of U.S. President Donald Trump, Jr. and Eric Trump, is seeking to acquire companies in Asia in order to bolster its Bitcoin reserves.

The agency added that the company has started reaching out to investors about potential acquisition deals, including plans to purchase a company listed in Japan and another in Hong Kong.

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American Bitcoin is looking to acquire companies that operate under a business model quite similar to that of U.S. MicroStrategy, which sells shares or bonds to invest the proceeds in purchasing cryptocurrencies like Bitcoin.

However, unlike MicroStrategy, which relies on direct purchases, American Bitcoin operates in the cryptocurrency mining sector and is set to be listed on the U.S. stock exchange in September through a reverse merger with Gryphon Digital Mining, which is listed on the Nasdaq.