Twin Bitcoin billionaires Cameron and Tyler Winklevoss have put cash into a brand new mining enterprise with direct ties to the Trump household, in line with a Bloomberg report.
The firm, American Bitcoin Corp., is linked to Eric Trump and Donald Trump Jr. and was fashioned earlier this yr.
The quantity the twins invested was not revealed. However, Hut 8 Corp. CEO Asher Genoot confirmed their contribution was a part of a $220 million personal placement that closed not too long ago.
The elevate, which included each money and Bitcoin, was described as oversubscribed throughout Hut 8’s newest earnings name.
The billionaire Winklevoss twins are mentioned to have invested in a brand new crypto-mining enterprise tied to a different set of high-profile brothers, Eric Trump and Donald Trump Jr. https://t.co/uCofs2eMWl
— Bloomberg (@enterprise) August 7, 2025
Political And Crypto Ties Grow Closer
This isn’t the primary time the Winklevoss twins and the Trump household have crossed paths. The twins have beforehand donated to President Donald Trump’s marketing campaign.
They have been additionally current at a White House crypto summit in March and attended the signing of latest crypto laws.
Genoot mentioned the corporate’s construction will give it the size and capital it must compete within the Bitcoin mining business.
Trump Family In Business With Hut 8
American Bitcoin Corp. started operations in March by a partnership with Hut 8, which holds 80% of the corporate.
The different 20% belongs to American Data Centers, a agency backed by Eric Trump and Donald Trump Jr. Eric can also be the corporate’s director for strategic planning.
Based on earlier Bloomberg reporting, his stake could possibly be valued as a lot as $367 million as soon as the corporate makes its public debut.
The firm plans to go public by an all-stock merger with Nasdaq-listed Gryphon Digital Mining Inc., buying and selling beneath the ticker “ABTC.”
Just this week, shareholders of Gryphon started voting on the deal. If given the greenlight, the collaboration is anticipated to be finalized by early September.
American Bitcoin says its focus will probably be on each mining and holding Bitcoin, constructing a long-term reserve from its personal manufacturing.
The Winklevoss twins, who run the Gemini crypto change, contributed their share in Bitcoin, in line with studies. A Gemini consultant declined to touch upon the funding.
Mining Sector Faces Stiffer Competition
American Bitcoin’s $220 million elevate alerts aggressive plans for growth. A Hut 8 submitting reveals round $10 million of newly issued fairness was offered for Bitcoin as a substitute of money, reflecting the corporate’s purpose to build up the asset instantly.
Donald Trump Jr. has mentioned that mining, together with holding Bitcoin, will probably be central to the corporate’s long-term technique.
Featured picture from Unsplash, chart from TradingView
Editorial Process for bitcoinist is centered on delivering totally researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent overview by our crew of prime know-how consultants and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
