The world of cryptocurrency continues to evolve, with significant investments sparking interest from various circles. Recently, it has been reported that the Winklevoss twins, known for their early investments in Bitcoin, are now involved in a venture with notable political ties.
This new venture, American Bitcoin Corp., is notably associated with members of the Trump family, specifically Eric Trump and Donald Trump Jr., and was established in 2023.
Details regarding the specific amount invested by the Winklevoss twins remain undisclosed. However, Hut 8 Corp. CEO Asher Genoot has confirmed that their investment was part of a larger fundraising round that raised $220 million, which was said to be oversubscribed.
The Winklevoss twins are reportedly putting their money into a crypto-mining initiative associated with the Trump brothers.
— Bloomberg (@business) August 7, 2025
Bridging Politics and Cryptocurrency
The Winklevoss twins and the Trump family have had previous encounters in the political arena. Historically, they have contributed to President Trump’s campaign efforts, emphasizing their growing influence within crypto and politics.
In addition, the twins participated in a White House summit focused on cryptocurrency earlier this year, demonstrating their intent to engage deeply in this evolving landscape.
Genoot elaborated on the company’s ambitious goals, indicating that its structure is designed to provide a significant competitive edge in the Bitcoin mining sector.
Strategic Alliances in Crypto Mining
Launched in March, American Bitcoin Corp. has partnered with Hut 8, which retains a dominant 80% stake in the venture.
The remaining 20% interest is held by American Data Centers, which is closely linked to the Trump brothers, with Eric Trump serving as a director focusing on strategic initiatives.
Based on prior reports, the valuation of Eric Trump’s stake could reach up to $367 million upon the company’s initial public offering.
This venture aims to list publicly through a merger with Gryphon Digital Mining Inc., which is already traded on Nasdaq under the ticker “ABTC.”
Shareholders of Gryphon are currently in the process of voting on this deal, and it is expected that decisions will be finalized by early next month.
American Bitcoin Corp. is set to concentrate on mining while also holding Bitcoin, thereby creating a long-lasting reserve sourced from its mining endeavors.
The Winklevoss twins, who are at the helm of the Gemini exchange, reportedly contributed their share of the investment in Bitcoin, though representatives from Gemini have not confirmed this detail.
The Competitive Landscape of Cryptocurrency Mining
The $220 million capital raise highlights American Bitcoin’s ambitious plans for rapid growth in a fiercely competitive mining environment. Documents filed by Hut 8 indicate that about $10 million of this new equity was acquired through Bitcoin rather than cash transactions, reflecting the firm’s commitment to increasing their Bitcoin holdings.
As Donald Trump Jr. has stated, the strategy of mining and holding Bitcoin will play a crucial role in the company’s future operations.
Image sourced from Unsplash; chart data from TradingView.
