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- 🎉 Gate US Stock Token Trading is Now Live! Spot, Futures, and Alpha Zone – All Open!
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💬 What derivatives or other products have you recently traded
Donald Trump is not stopping! Trump-linked company made another move with Bitcoin (BTC)!
US President Donald Trump, as he continues his moves in Bitcoin and cryptocurrency, has made another move.
At this point, Trump-linked company American Bitcoin raised 220 million dollars to purchase Bitcoin and mining equipment.
According to a report by Bloomberg, American Bitcoin, a Bitcoin mining company supported by U.S. President Donald Trump's two sons, has raised $220 million to purchase BTC and BTC mining equipment.
This financing comes after the company issued and sold more than 11 million new shares to private investors last Friday.
Approximately 10 million dollars worth of shares were sold in exchange for Bitcoin instead of dollars, and an exchange rate of 104,000 dollars per Bitcoin was used in this transaction.
"The company aims to use the financing obtained to fund strategic and Bitcoin accumulation goals, which may include but are not limited to the purchase of Bitcoin and mining equipment."
American Bitcoin was co-founded by Eric Trump and another Bitcoin miner, Hut8. Meanwhile, American Bitcoin aims to be listed on Nasdaq through a full stock merger with Gryphon Digital Mining, a mining company listed on Nasdaq. Eric Trump, along with his brother Donald Trump Jr. (co-founder) and existing shareholders like the mining company Hut 8, will hold 98% of the shares in the new venture.
*It is not investment advice.
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