American Bitcoin secures $220 million for expansion, with 10% in Bitcoin

American Bitcoin, a cryptocurrency mining startup supported by Eric Trump, has secured $220 million to enhance its presence in the Bitcoin mining sector. The recent disclosure by Hut 8 Corp outlined that the funds will primarily be allocated towards acquiring mining equipment and strengthening Bitcoin reserves. This move highlights the continued engagement of the Trump family in the realm of digital assets.

A fraction of the raised capital, around $10 million, was exchanged in Bitcoin rather than traditional currency. This action underscores the company’s initiative to amass strategic reserves of the asset it aims to mine while cementing a positive long-term outlook on BTC. The filing from Hut 8 with the SEC stated, “The Company plans to utilize the net proceeds to support its strategic objectives and Bitcoin accumulation targets, such as acquiring Bitcoin and/or mining equipment.”

Since its inception in March 2025, American Bitcoin has been striving to establish itself as a leading industrial-scale Bitcoin miner. The entity, primarily owned by Hut 8, is making significant strides towards increasing its visibility to the public. As part of its expansion blueprint, the organization is pursuing a full merger with Gryphon Digital Mining in a bid to secure a Nasdaq listing. Following the finalization of the merger, the united entity will operate under the American Bitcoin moniker and trade under the symbol ABTC. Eric Trump, Donald Trump Jr., and other current stakeholders will collectively retain a dominant 98% stake in the new venture.

Donald Trump Jr. emphasized in a statement in May that “purely acquiring Bitcoin is just the start,” indicating that direct involvement in mining operations confers a more robust strategic advantage, particularly in favorable market climates. This outlook resonates with the organization’s emphasis on enhancing its mining capabilities.

While American Bitcoin is currently concentrating on operations within the United States, its parent company, Hut 8, is eyeing international horizons. A spokesperson mentioned that Hut 8 intends to venture into Dubai, pointing to the city’s crypto-friendly regulations and infrastructure as pivotal factors. This expansion plan is reportedly distinct from the American Bitcoin initiative, indicating Hut 8’s broader ambition of extending its global footprint irrespective of political associations.

Dubai’s growing allure to miners follows a global quest for jurisdictions offering cost-effective energy, clear regulatory frameworks, and supportive environments for digital assets, positioning the Emirate as an ascending center for crypto innovation. The trajectory of American Bitcoin underscores the ongoing fusion of traditional political influence and emerging digital finance. Endorsed by the Trump family, the endeavor is capturing the interest of investors as well as scrutiny from the public.

While certain stakeholders may perceive the political connections as a branding asset, others will monitor closely to ascertain whether American Bitcoin can substantiate its ambitious claims with performance, especially as it navigates the volatile terrain of cryptocurrency markets and public listings. As it progresses towards a potential Nasdaq debut and augments its mining activities, the success of the company could emerge as a paradigm of how established political figures reshape or are reshaped by the cryptocurrency sphere.