Winklevoss Twins Invest in Trump-Linked Mining Firm American Bitcoin Corp.

In a significant development, Gemini co-founders Cameron and Tyler Winklevoss have made an undisclosed investment in American Bitcoin Corp., a mining firm partly owned by US President Donald Trump’s sons Eric and Donald Jr. The investment was part of a private placement by the Miami-based venture, which was “oversubscribed,” according to Hut 8 CEO Asher Genoot.

Investment Details

Genoot confirmed that the Winklevoss twins participated in the investment using Bitcoin, although the exact amount remains undisclosed. The offering generated roughly $220 million in combined cash and BTC proceeds, which the company plans to use for asset accumulation and mining expansion.

Significance of the Investment

This investment adds another link in the growing relationship between the Gemini founders and the Trump family. The twins have attended multiple White House events, including a March digital assets summit and a July signing ceremony for the GENIUS Act, which sets a regulatory framework for payment stablecoins. President Trump personally acknowledged their contributions at the latter event.

Winklevoss Twins’ Ties to the Trump Family

The twins have also donated millions to Trump’s 2024 campaign and pro-Trump political committees. Interestingly, this relationship appears to be drawing attention in Washington. In July, Politico reported that the Winklevoss brothers may have influenced the White House’s decision to delay the nomination of Brian Quintenz as chair of the US Commodity Futures Trading Commission.

American Bitcoin Set for Nasdaq Listing

American Bitcoin, which is about 20% owned by Eric and Donald Trump Jr., emerged from a restructuring of Hut 8’s mining operations. The Canadian miner transferred its US-based mining sites and equipment into the new venture in exchange for an 80% stake, while the Trump sons retained their ownership through a related entity.

Company Strategy

The company has agreed to go public via an all-stock merger with Nasdaq-listed Gryphon Digital Mining, a deal expected to close in early September. Upon listing, Eric Trump’s stake could be worth as much as $367 million, according to Bloomberg. American Bitcoin’s core strategy focuses on building long-term value through two parallel objectives: mining Bitcoin at a cost lower than the market rate and continually increasing its direct cryptocurrency holdings.

Current Holdings

As of June, American Bitcoin reported a reserve of 215 BTC worth nearly $24 million, stored with Coinbase Custody. The company contracts out its mining operations rather than owning and operating all infrastructure directly, a model that keeps fixed costs low while allowing it to scale quickly.

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