American Bitcoin, backed by the Trump sons and mainly owned by Hut 8, has just pulled off a remarkable feat: raising $220 million to bolster its war chest… in BTC.
Trump Sons Raise $220 Million to Buy BTC via American Bitcoin
Initial goal: $200 million. Final result: $220 million, including $10 million directly in bitcoin (at a rate of $104,000 per unit). A Strategy-style operation that surpasses expectations, approved by the SEC, allowing the company to prepare for a potential new bullish wave.
By the numbers: 11 million Class A shares were sold to accredited investors. After deducting fees, the company pockets $215 million net. Just like that.
Accumulating BTC and Strengthening Machinery
The plan is clear: convert these millions into reserve bitcoins and upgrade the mining infrastructure. The company aims to both secure BTC on its balance sheet and enhance its computing power to stay competitive in an increasingly demanding market.
In other words: it’s laying the groundwork to withstand the next bull run without flinching.
A Trump-style Crypto Deal
Behind this operation, we find a well-known family: Eric and Donald Trump Jr.. The two brothers merged their company American Data Center with American Bitcoin Corp, now owning 20% of the shares. The remaining 80% is owned by Hut 8, a Canadian behemoth listed on Nasdaq.
This familial connection to the American president obviously fuels both media attention and investor interest. The Trump name is becoming increasingly associated with an ambitious player in the Bitcoin sector.
On the Way to Wall Street
This is just the beginning: American Bitcoin plans to go public through a merger with Gryphon Digital Mining (GRYP), already publicly listed. A classic reverse SPAC strategy, allowing for a rapid and less risky market entry.
