President Trump has consistently vowed to position the United States as the global leader in cryptocurrency innovation and adoption. (Shutterstock)The firm, American Bitcoin, counts Eric Trump and Donald Trump Jr. among its key backers and has quickly emerged as a politically connected player in the growing world of institutional crypto mining. The capital raise, disclosed in a regulatory filing on Monday, includes $10 million worth of equity sold for Bitcoin rather than U.S. dollars, underscoring the company’s crypto-native positioning.
The majority stakeholder in American Bitcoin is mining firm Hut 8 Corp., which detailed the transaction in its filing. The funding round, completed last Friday, saw new shares issued to private investors, signaling strong institutional appetite for crypto ventures associated with the Trump brand.
The Trump sons’ increased activity in the sector aligns closely with broader pro-crypto signals from the White House. Since returning to office, President Trump has made repeated public promises to transform the U.S. into “the crypto capital of the world.” His administration has eased regulatory constraints, advocated for the GENIUS Act to regulate stablecoins, and established a national Bitcoin reserve.
Against this backdrop, Eric and Donald Trump Jr. have embraced digital assets as both a business opportunity and a strategic asset class. Over the past year, they’ve positioned themselves as high-profile crypto evangelists, appearing at industry conferences and advising several blockchain-focused firms.
American Bitcoin was spun out from a newly formed unit within a Trump-affiliated investment bank. As part of the firm’s creation, Hut 8 contributed its existing mining equipment in exchange for an 80% stake, effectively merging legacy mining infrastructure with the Trump family’s access to capital markets and political connections.
Now, Hut 8 plans to take American Bitcoin public via a reverse merger with Gryphon Digital Mining Inc., a publicly traded company already listed in the U.S. equity markets. The transaction, expected to close in Q3 2025, would give American Bitcoin an instant public listing, potentially opening the door for retail and institutional investors aligned with the Trump administration’s crypto vision.
Bitcoin mining is a computationally intensive process that requires large amounts of energy to validate blockchain transactions and secure the network. In return, miners are rewarded with newly minted Bitcoin, a process often criticized for its environmental footprint but increasingly defended as a strategic industrial operation in the U.S.
American Bitcoin's primary mining facilities are reportedly based in Texas, a state known for cheap power, flexible grid access, and a permissive regulatory environment for crypto firms. Sources close to the company say part of the newly raised capital will go toward expanding infrastructure, including immersion cooling systems and next-generation ASIC miners.
Although unrelated to American Bitcoin, Hut 8 has also signaled ambitions abroad, with a planned expansion into Dubai. The Dubai initiative is part of Hut 8’s separate global diversification strategy and not directly connected to the Trump-backed project.
Dubai, known for its crypto-friendly regulatory regime, has emerged as a magnet for digital asset firms in recent years, offering tax advantages, modern infrastructure, and strong sovereign backing.
With $220 million in fresh capital, political firepower, and a pending public listing, American Bitcoin Corp. is quickly becoming one of the most closely watched mining startups in the world.
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