Mentioned:
One of the largest new players in Bitcoin mining in the United States has raised hundreds of millions of dollars in a new funding round. And it might just be the very beginning.
What’s happening:
- American Bitcoin has successfully raised $220M USD in a new equity financing round
By the numbers:
- American Bitcoin issued roughly 11M Class A common shares at a price of approximately $11.00 USD per share
- Roughly $10M USD of the new capital raise was paid for directly in Bitcoin
Why it matters:
- American Bitcoin is co-founded by Eric Trump and Donald Trump Jr and was formed through a strategic partnership with Hut 8 (NASDAQ: HUT)
Going deeper:
- American Bitcoin previously made waves on Wall Street when they entered into a merger agreement with Gryphon Digital Mining (NASDAQ: GRYP) to become a publicly traded company
The intrigue:
- Dominari Holdings (NASDAQ: DOMH) is a significant shareholder in American Bitcoin and has notably been leading multiple financing rounds for disruptive publicly traded technology companies lately
