American Bitcoin, a cryptocurrency mining and holding company backed by Eric Trump and Donald Trump Jr., raised $220 million to acquire more Bitcoin and purchase additional miners. Approximately $10 million was converted into Bitcoin shortly after the stock sale. American Bitcoin is a subsidiary of Hut 8, which previously transferred mining equipment for an 80% stake. American Bitcoin intends to go public on Nasdaq under ticker $ABTC and joins other Trump-related crypto ventures aiming to accumulate Bitcoin and attract substantial investments.
American Bitcoin, backed by Eric Trump and Donald Trump Jr., raised $220 million to acquire more Bitcoin and purchase additional miners for Bitcoin transactions.
The Trump family's crypto business is not limited to American Bitcoin, as other ventures also aim to accumulate Bitcoin and attract significant investment.
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