A cryptocurrency venture associated with the U.S. President Donald Trump’s family has secured $220 million in funding to ramp up Bitcoin and digital asset mining operations, according to a regulatory filing submitted Monday.
The company, American Bitcoin, raised the capital through a private share issuance on Friday, with a portion of roughly $10 million in Bitcoin rather than U.S. dollars. The investment marks a significant push by the Trump family into the growing crypto-mining sector.
American Bitcoin’s backers include Eric Trump, son of Donald Trump, and the company’s majority stakeholders in Hut 8 Corp, a prominent name in the digital mining space. In a Strategic move, Hut 8 transferred its mining equipment to the newly formed entity in exchange for an 80% ownership stake.
The venture represents the Trump family’s latest foray into the cryptocurrency industry. Eric Trump and Donald Trump Jr. have pursued multiple crypto-related projects in recent years, following a trend that began during their father’s presidency. During his term, Donald Trump made efforts to deregulate parts of the crypto industry, often touting ambitions to turn the United States into the crypto capital of the world.
American Bitcoin emerged from a recently created unit within a Trump-advised investment bank. The firm now plans to go public through a merger with Gryphon Digital Mining Inc., a move that would bring it directly into the ranks of publicly traded crypto firms.
Bitcoin mining, the core of American Bitcoin’s business, involves high-powered computing systems that validate blockchain transactions and are rewarded with newly created Bitcoin. The process is widely known for its substantial energy requirements.
Hut 8 representative declined to provide additional comment regarding the latest share offering. Eric Trump and Hut 8 launched the American Bitcoin mining Firm in late March 2025.
