American Bitcoin, a Bitcoin mining company linked to Donald Trump, has raised $220 million to buy Bitcoin mining equipment and to bolster the company's Bitcoin treasury . According to a regulatory filing, 11 million shares were issued in a private placement on Friday, with gross proceeds amounting to $220 million .
Notably, $10 million worth of shares were sold for Bitcoin instead of cash, with the average cost of acquisition standing at $104,000 per coin . On June 10, it was reported that American Bitcoin's Bitcoin treasury stood at 215 Bitcoin . The company has ties to the Trump family, as President Donald Trump's sons, Donald Trump Jr. and Eric Trump, were among the founders of American Bitcoin .
American Bitcoin, a firm linked to Eric Trump, has raised $220 million to acquire Bitcoin and enhance its mining operations . This reflects growing institutional interest in the crypto sector . The company was established in early 2025 through a collaboration between Hut 8, Eric Trump, and Donald Trump Jr . The company not only intends to pursue large-scale BTC mining operations but also aims to treat Bitcoin as a strategic treasury asset, retaining it on its balance sheet .
According to a recent SEC filing, American Bitcoin outlined a comprehensive strategic framework, revealing that as of May 31, 2025, the company had mined 215 BTC . The firm indicates that it intends to steadily expand its Bitcoin reserves while continuing to operate its mining infrastructure . On the same date, American Bitcoin reported that it owned 60,000 BTC mining machines, collectively generating 10.17 exahash per second (EH/s) with an energy efficiency rating of 21.2 joules per terahash .
The company also utilizes mining pools offered by Foundry and Luxor, both of which charge pool fees below 1% . Hut 8 exclusively provides ABTC with its hosting and operational mining services . Additionally, the filing confirms that Gryphon Digital Mining has entered a definitive stock-for-stock merger agreement with ABTC . The $220 million raise signals growing investor confidence in the intersection of crypto, energy, and political influence .