Yigit Taha OZTURK 
A massive capital raise from a politically connected crypto company is shaking up the digital asset space. Backed by ties to the Trump family, American Bitcoin has taken a giant step toward dominating the Bitcoin mining sector while bolstering its digital reserves.
The company, majority-owned by Hut 8, confirmed raising $220 million through a private placement of 11 million shares. Most notably, $10 million worth of shares were bought with Bitcoin, signaling a high-stakes bet on the future of digital assets.
Bitcoin-Funded Investment Draws Attention
The Form 8-K filing with the SEC reveals a significant shift in how capital is raised in the crypto world. American Bitcoin accepted Bitcoin instead of fiat for part of the raise, with an average acquisition price of $104,000 per coin.
You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!
As of June 10, the company held 215 Bitcoin in its treasury — a figure likely to rise after this funding round. The strategic choice to hold Bitcoin rather than sell signals long-term confidence in the asset.
Hut 8 Expands Global Presence With Dubai Office
Meanwhile, parent company Hut 8 is expanding internationally. Bloomberg reports that a new office has been opened in Dubai under the name Hut 8 Investment Ltd., aimed at cryptocurrency trading and digital asset accumulation.
CEO Asher Genoot stated that the Dubai expansion would enhance capital strategy precision and execution. Importantly, Hut 8 clarified that the Dubai office operates independently from American Bitcoin.
The move reflects the United Arab Emirates’ growing appeal as a hub for crypto startups, thanks to favorable regulations and tax structures.
Going Public via Nasdaq: A Major Milestone
American Bitcoin also announced plans to go public by merging with Gryphon Digital Mining, a company listed on Nasdaq. The stock-for-stock merger will retain the American Bitcoin name and see Eric Trump take a seat on the board.
Post-merger, current American Bitcoin shareholders will own 98% of the new entity, while Hut 8 continues to oversee operations — cementing its position as a leading force in the global Bitcoin mining sector.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.