Trump-Backed American Bitcoin Raises $220M to Buy BTC, Scale Mining Infrastructure

The company sold over 11 million new shares to private investors, generating $220 million for Bitcoin acquisitions and advanced mining hardware. Around $10 million worth of shares were sold for Bitcoin instead of dollars, at an exchange rate of $104,000 per BTC.

American Bitcoin filed its fundraising disclosure in Canada, reflecting a cross-border issuance led by its majority owner, Hut 8 Corp. The mixed-currency funding approach included both traditional cash investments and direct Bitcoin contributions from investors.

The company plans to deploy the funds to purchase state-of-the-art mining rigs and increase its Bitcoin holdings. American Bitcoin has previously announced intentions to integrate mining hardware from Hut 8, aiming to consolidate resources and achieve operational scale.

“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 filing reads.

American Bitcoin debuted earlier in 2025 as the first U.S.-listed firm to tie its strategy to the Trump family's support. The venture aims to capitalize on growing interest in Bitcoin mining through both public and private financing channels.

Hut 8 Corp, a leading Bitcoin miner, retains majority ownership and has supplied initial infrastructure to American Bitcoin. The funding round reflects the ongoing institutionalization of mining operations as companies seek to scale amid rising energy and equipment costs.