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Eric Trump-backed American Bitcoin Raises $220 Million for Bitcoin Mining Business Development

Summary: According to reports, a cryptocurrency company supported by Eric Trump, son of US President Trump, American Bitcoin, has raised $220 million in funding to purchase Bitcoin and digital asset mining equipment. The company issued new shares to private investors last Friday, with approximately $10 million worth of equity sold in Bitcoin rather than US dollars. ...

According to reports, a cryptocurrency company supported by Eric Trump, son of US President Trump, American Bitcoin, has raised $220 million in funding to purchase Bitcoin and digital asset mining equipment. The company issued new shares to private investors last Friday, with approximately $10 million worth of equity sold in Bitcoin rather than US dollars.

American Bitcoin's major 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 80% of the shares.

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