Winklevoss brothers invest in Trump family's encryption mining business! American Bitcoin raises $220 million, Nasdaq listing imminent.

The co-founders of the cryptocurrency exchange, Cameron and Tyler Winklevoss, have made an undisclosed amount of Bitcoin investment in the American mining company, American Bitcoin Corp. Approximately 20% of the company’s shares are held by former U.S. President Trump’s sons, Eric and Donald Trump Jr. This private sale raised a total of $220 million (including cash and BTC), with oversubscription. The funds will be used for asset acquisition and mining farm expansion. American Bitcoin plans to go public in early September through a full stock merger with Nasdaq-listed Gryphon Digital Mining, with Eric Trump’s shares potentially valued at $367 million.

Winklevoss brothers participate in private sale with BTC

According to Hut 8 CEO Asher Genoot, American Bitcoin Corp, a mining company based in Miami, recently completed an “oversubscribed” private sale. The founders of mainstream CEX, the Winklevoss brothers, participated in this investment, and paid the investment amount using Bitcoin (BTC). Genoot confirmed their participation but did not disclose the specific amount.

Use of Funds and Company Background

• Total Financing Amount: This round of private sale raised approximately $220 million (including cash and Bitcoin).
• Use of Funds: The funds will be used for crypto assets accumulation and Bitcoin mining business expansion.
• Shareholder Background: American Bitcoin Corp was formed by the restructuring of the U.S. operations of the Canadian publicly listed mining company Hut 8. Hut 8 injected its U.S. mining farms and equipment into the new company in exchange for 80% equity; the Trump brothers hold the remaining approximately 20% equity through affiliated entities.

The political ties between Gemini and the Trump family deepen

This investment further deepens the increasingly close ties between the Winklevoss brothers and the Trump family:

1. Frequent Interaction: In recent years, the two brothers have attended White House events multiple times, including the Digital Assets Summit in March and the signing ceremony of the GENIUS Act in July (which establishes a regulatory framework for stablecoin payments). President Trump personally recognized their contributions at the latter event.
2. Political Donations: The two have donated millions of dollars to the Trump 2024 campaign team and the political committee supporting Trump.
3. Potential Regulatory Impact: In July of this year, Politico reported that the Winklevoss brothers may have influenced the White House’s decision to delay the nomination of Brian Quintenz as Chairman of the U.S. Commodity Futures Trading Commission (CFTC). Although the report did not confirm direct intervention, it noted that they publicly expressed support after Trump announced the nomination of Quintenz. Neither the White House nor the Gemini twins commented on the matter, and the nomination is expected to return to the agenda after Congress reconvenes later this year.

American Bitcoin: Light Asset Operations and Listing Plans

• Core Strategy: The company adopts a light-asset mining enterprise operation model, focusing on two core objectives:
  • Mine Bitcoin at a cost lower than the market average.
  • Continuously increase its directly held crypto assets reserves.
• Operating Model: The company will outsource the mining business rather than directly owning and operating all infrastructure. This model aims to control fixed costs and achieve rapid expansion.
• Asset Reserves: As of June, the company reported holding 215 BTC (worth nearly 24 million USD), custodied with Coinbase Custody.
• Listing Process: American Bitcoin has agreed to go public through a full stock merger with Nasdaq-listed company Gryphon Digital Mining. The transaction is expected to be completed in early September. According to Bloomberg estimates, the value of the shares held by Eric Trump after the listing could be as high as $367 million.

Conclusion: The Winklevoss brothers’ investment in a mining company associated with the Trump family through Bitcoin is not only an important business layout but also highlights the increasingly deepening ties between giants in the encryption industry and traditional political forces. American Bitcoin’s light asset model and listing plans, combined with its significant “Trump concept stock” attributes, make it a unique case at the intersection of crypto mining and capital markets. As the Nasdaq listing approaches in early September and the topic of crypto regulation continues to heat up during the U.S. election cycle, the company’s movements and the political influence of its shareholders deserve close attention from the market. This event further confirms the close relationship between capital and policy lobbying in the field of crypto assets.