Trump family related cryptocurrency project American Bitcoin raises $220 million for Bitcoin mining

According to Bloomberg, American Bitcoin, a cryptocurrency project related to the Trump family, raised $220 million through the issuance of new shares to purchase Bitcoin and digital asset mining equipment. Part of the equity is traded in Bitcoin instead of US dollars, with a value of approximately 10 million US dollars. American Bitcoin is supported by Eric Trump, and its major shareholder Hut 8 Corp plans to take the company public through a merger with Gryphon Digital Mining Inc. This project is one of the many efforts to introduce Bitcoin into the public trading market. Hut 8 has previously handed over its mining equipment to American Bitcoin in exchange for 80% equity and plans to further expand to Dubai. In addition, the Trump family has been actively involved in multiple cryptocurrency related projects aimed at promoting the United States as the "Capital of Cryptocurrency".