American Bitcoin Corp, a Miami-Based Mining Company’s Purchase Owned by Hytte 8 (Hut) And supported by the Trump family has raised $ 220 million from accredited investors, according to a filing at the US Securities and Exchange Commission.
The mound topped its target of $ 200 million, and it also accepted approx. 10 million dollars bitcoin
Instead of cash, the filing details. The location network approx. 215 million dollars after fees. The company sold 11,002,954 Class A shares in total.
The fresh capital will be used Add Bitcoin to the company’s treasury and upgrade its fleet of miners.
US President Donald Trump’s sons, Eric and Donald Trump JR, owned the US data center merging with American Bitcoin. According to previous reports, American Bitcoin is owned 80% of HUT 8, with the Trump brothers owning 20%.
In May, the company announced that it is fighting for a public list by merging with Gryphon Digital Mining (Gryp). HUT 8’s share has fallen 0.86% in trading before the market to $ 18.44.
Read more: Trump Family-supported American Bitcoin to become public via Fusion with Gryphon Digital
