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13 hour ago
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Scaramucci Family Invests Over $100M in Trump-Backed Bitcoin Mining Firm

AJ Scaramucci's family has invested over $100 million in a Bitcoin mining company supported by US President Donald Trump's sons. This investment was part of a $220 million pre-IPO financing led by Solari Capital in July.

Funding Details

  • Total financing reached $220 million, with Solari Capital contributing more than $100 million.
  • Anthony Scaramucci also made a personal contribution.
  • Other investors include the founder of Cardano and several entrepreneurs.

Company Overview

  • The company owned over 60,000 Bitcoin miners as of May 31, 2025, with a hashrate of approximately 10.17 EH/s.
  • It is building a strategic Bitcoin reserve through mined coins and market purchases.

Partnerships and Ownership

  • American Bitcoin formed in partnership with a large mining operator providing infrastructure and equipment.
  • The partner holds the majority of the economic interest; the Trump brothers hold a smaller stake.
  • The company aims to go public through a merger agreement.

Security Concerns

  • Access to equipment from a major Chinese miner raises national security concerns.
  • Extended payment terms for hardware create potential political and security issues.

Operational Performance

  • The company mines Bitcoin and buys on the open market to increase holdings.
  • In Q3, it mined several hundred BTC, boosting revenue and margins.
  • Analysts caution that this strategy increases exposure to crypto price volatility.