Billionaire Bitcoin pioneers Tyler and Cameron Winklevoss have reportedly invested in a new crypto-mining venture, American Bitcoin Corp., with ties to Eric Trump and Donald Trump Jr., marking a convergence of digital asset power players and political influence.
According to Bloomberg, the investment was part of a private placement by American Bitcoin Corp., a newly formed entity created through the merger of Hut 8 Corp.’s mining assets and a Trump-affiliated investment group. Asher Genoot, CEO of Miami-based Hut 8, confirmed the Winklevoss twins’ participation during an earnings call, noting that the offering was oversubscribed and that the twins contributed using Bitcoin.
While the exact size of the Winklevoss investment remains undisclosed, the company presentation revealed that the placement raised approximately $220 million in combined cash and Bitcoin. The action reflects rising institutional interest in crypto infrastructure, especially among politically connected investors.
Strategic Investment and Industry Implications
The Winklevoss twins, founders of the Gemini crypto exchange, which filed for public listing in June this year, have long been vocal supporters of Bitcoin and digital asset regulation. Their involvement with the Trump-linked venture reflects a strengthening relationship with the Trump family. The twins were recent guests at the White House, attending both a digital-assets summit in March and a signing ceremony for landmark crypto legislation.
American Bitcoin Corp. envisions becoming a major player in the North American crypto-mining landscape, leveraging both financial backing and political connections to expand its operations. High-profile people in the spheres of technology and politics are indicators that the crypto industry has entered a new period of mass adoption.
A spokesperson for Gemini declined to comment on the investment. However, industry analysts believe the partnership could have strategic implications for future regulatory developments and public sentiment around crypto.
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