American Bitcoin Corp., a cryptocurrency venture backed by Donald Trump Jr. and Eric Trump, has quietly pulled in $220 million from private investors to enlarge its Bitcoin stash and add new mining hardware, Bloomberg reported.
The cash came from a Friday share sale in which the company issued about 11 million Class A shares. Bloomberg said the filing shows that roughly $10 million of the equity was paid for in Bitcoin rather than cash, underscoring how deeply the token has seeped into mainstream finance.
American Bitcoin is majority-owned by Toronto-listed miner Hut 8 Corp. and was formed earlier this year to act as both an industrial-scale mining operation and a strategic Bitcoin reserve. The firm plans to merge with Las Vegas-based Gryphon Digital Mining and trade on Nasdaq under the ticker ABTC as soon as the third quarter.
The amended registration statement, filed with the US Securities and Exchange Commission on 1 July, indicates that American Bitcoin’s management and board will run the combined company.
While no Israeli investors were named in the filing, industry insiders told The Jerusalem Post that a nine-figure raise—especially one that accepts Bitcoin in lieu of dollars—could spur local institutions to take a harder look at mining ventures. The Bank of Israel is already weighing new custody rules for digital assets; the Trump family’s high-profile entry may sharpen that debate.
Crypto's importance in the Trump administration
The latest deal also reinforces the political spotlight on crypto. President Donald Trump has vowed to give the United States a friendlier regulatory environment for digital assets, and his sons’ venture now stands among the best-funded miners in North America.
Whether Jerusalem follows Washington’s lead remains to be seen, but the scale and symbolism of this raise ensure the story will reverberate well beyond Wall Street and the White House.