Odaily Planet Daily News: American Bitcoin, a cryptocurrency company backed by Eric Trump, son of US President Trump, has raised $220 million to purchase Bitcoin and digital asset mining equipment. The company issued new shares to private investors last Friday, of which about $10 million of equity was sold in Bitcoin rather than US dollars.
American Bitcoin's major shareholder Hut 8 Corp plans to take it to the public market by merging with Gryphon Digital Mining Inc. Hut 8 had previously transferred its mining equipment to American Bitcoin in exchange for 80% of its equity. (Bloomberg)