The Scaramucci family has invested over $100 million into American Bitcoin, the mining firm tied to US President Donald Trump’s sons.
The funding got here by means of Solari Capital, the funding agency based by AJ Scaramucci, which led the corporate’s $220 million spherical in July, months earlier than American Bitcoin went public by means of a reverse merger in September, according to a report from Fortune. The miner didn’t beforehand disclose its backers.
AJ Scaramucci informed Fortune that Solari Capital contributed “over $100 million,” although he didn’t reveal the precise quantity. His father, Anthony Scaramucci, additionally participated with a smaller funding.
Other contributors included Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone and entrepreneur Peter Diamandis, per the report.
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Bitcoin is past politics
The involvement got here amid a long-running feud between Anthony Scaramucci and Donald Trump. Scaramucci briefly served as Trump’s White House communications director in 2017 earlier than being fired days later, later rising as a vocal critic who endorsed Joe Biden and Kamala Harris in the 2020 and 2024 elections.
However, AJ stated politics performed no function in the deal. “Has my Dad and Don Sr. have they had their fair share of back and forth? Of course they have,” he informed Fortune. “But Bitcoin transcends politics.” Anthony additionally reportedly referred to as Bitcoin the “orange team” that sits above partisan divides.
According to the report, AJ sourced the funding by means of a long-standing private connection. He was roommates with Matt Prusak, now the president of American Bitcoin, whereas attending Stanford’s enterprise faculty.
When Prusak informed him the miner can be spun out from Hut 8, AJ pushed for Solari to guide the spherical. He stated he believes the corporate can compete with publicly traded Bitcoin accumulation corporations, together with these positioning their inventory as a proxy for proudly owning BTC.
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American Bitcoin holds 4,000 BTC
American Bitcoin mines and holds Bitcoin, and in addition purchases extra BTC on the open market. According to BitcoinTreasuries.NET, the agency holds 4,004 BTC, value round $383.86 million, on its steadiness sheet.
In a current interview with The Wall Street Journal, Eric Trump stated the current crypto downturn is no cause for concern, calling volatility a mandatory trade-off for top returns. His feedback come as Bitcoin briefly slipped under $95,000, about 25% decrease than its early-October peak.
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