Editor's PiCK
Trump Family Venture 'American Bitcoin' Raises $220 Million to Acquire Bitcoin
Summary
- American Bitcoin announced that it raised $220 million through a new share issuance for Bitcoin acquisition and the purchase of mining equipment.
- American Bitcoin stated it is pursuing a Nasdaq listing through a full stock merger with Nasdaq-listed miner Gryphon Digital Mining.
- After the merger, Eric Trump, Donald Trump Jr., and existing shareholders will retain 98% of the shares in the new entity.
Eric Trump, the second son of former U.S. President Donald Trump, has successfully raised funds for American Bitcoin to acquire Bitcoin (BTC).
According to Bloomberg on the 1st (KST), American Bitcoin raised $220 million through a new share issuance. The funds will be used for Bitcoin acquisition and the purchase of mining equipment.
American Bitcoin is a Bitcoin mining company participated in by both of President Trump's sons. Since last March, Eric Trump has been serving as Chief Strategy Officer.
Meanwhile, American Bitcoin is pursuing a listing on Nasdaq through a full stock merger with Gryphon Digital Mining, a Nasdaq-listed mining company. Eric Trump, his brother Donald Trump Jr.—the co-founder—and existing shareholders such as mining firm Hut 8 will retain 98% of shares in the new entity.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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