American Bitcoin Corp., the majority-owned subsidiary of Hut 8 Corp., has raised $220 million through a private stock sale aimed at expanding its Bitcoin treasury and mining operations.
According to a recent SEC filing, a portion of the investment was made directly in Bitcoin.
🇺🇸 Eric Trump's firm, American Bitcoin Corp., secures $215M in fresh funding to expand its #Bitcoin holdings 🔥 pic.twitter.com/6LHvQ3Qz9B
— BTC Times (@BTCTimescom) July 1, 2025
The transaction closed on June 27th, just days after a June 24th agreement with accredited investors.
Over 11 million shares of Class A common stock were sold during the first tranche of the offering, which was conducted under Rule 506 of Regulation D and is therefore exempt from SEC registration requirements.
About $10 million worth of the investment was made in Bitcoin at a conversion price of $104,000 per Bitcoin. After accounting for associated fees and commissions, net proceeds totaled roughly $215 million.
“The Company intends to use the net proceeds to fund its strategic and Bitcoin accumulation goals, which may include, but are not limited to, the purchase of Bitcoin and/or miners,” the company noted in its filing.
The funds will help American Bitcoin increase its Bitcoin holdings and acquire new mining equipment to support its growth strategy.
Back on March 31st, Hut 8 revealed it was transferring nearly all of its Bitcoin mining assets to American Bitcoin in exchange for 80% ownership of the new entity.
In May, American Bitcoin confirmed its plan to go public via a reverse merger with Gryphon Digital Mining.
If successful, the company will begin trading under the ticker symbol ABTC on the Nasdaq, potentially as early as Q3.
Around the same time, Trump Media announced a $2.5 billion fundraising initiative aimed at building a Bitcoin reserve, taking inspiration from Michael Saylor’s Strategy, which has acquired over 597,325 Bitcoin to date, boosting its stock performance along the way.
“We’re seriously on crypto—we’re seriously on Bitcoin,” said Don Trump Jr.
“We’re in three major deals. I believe we’re at the beginning of what will be the future of finance. And the opportunity is massive.”