Trump Crypto Venture Raises $220 Million for Bitcoin Mining

A cryptocurrency venture associated with President Donald Trump’s family raised $220 million to buy Bitcoin and digital asset mining equipment, according to a filing Monday.

American Bitcoin, a company whose backers include Trump’s son Eric Trump, issued new shares to private investors on Friday. Some of the equity, worth about $10 million, was sold for Bitcoin rather than dollars, according to the filing by American Bitcoin’s majority owner Hut 8 Corp.