American Bitcoin Corp., a U.S. bitcoin-mining firm majority-owned by Toronto-listed Hut 8 Corp. and backed by Eric Trump and Donald Trump Jr., has secured about $220 million in new financing, according to regulatory filings cited by industry publications. Roughly $10 million of the capital was contributed in bitcoin, underscoring investors’ willingness to use the token directly. The proceeds will be used to purchase additional bitcoin as well as mining hardware, expanding the company’s computing capacity at a time when competition for lower-cost power and next-generation rigs is intensifying. American Bitcoin currently holds about 215 BTC on its balance sheet. The miner plans to go public through a merger with Gryphon Digital Mining, joining a wave of consolidation in the sector following the latest bitcoin halving. The fundraising also aligns with a broader Republican push to frame domestic crypto mining as a strategic industry.