Trump's son supports American Bitcoin financing of $220 million for the purchase of Bitcoin and digital asset mining equipment

ChainCatcher news, according to Bloomberg, a cryptocurrency company supported by Eric Trump, the son of former U.S. President Trump, called American Bitcoin has raised $220 million to purchase Bitcoin and digital asset mining equipment. The company issued new shares to private investors last Friday, with approximately $10 million of the equity sold in Bitcoin rather than U.S. dollars.

American Bitcoin's main shareholder, Hut 8 Corp, plans to take it public through a merger with Gryphon Digital Mining Inc. Hut 8 had previously transferred its mining equipment to American Bitcoin in exchange for an 80% equity stake.