American Bitcoin, supported by Trump's son, raises $220 million to develop Bitcoin mining business

Odaily Planet Daily News: American Bitcoin, a cryptocurrency company supported by Eric Trump, son of US President Trump, 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 equity sold in Bitcoin instead of US dollars. Hut 8 Corp, the major shareholder of American Bitcoin, plans to push it to the public market through a merger with Gryphon Digital Mining Inc. Hut 8 has previously transferred its mining equipment to American Bitcoin in exchange for 80% equity. (Bloomberg)