The Trump family's related mining company raised $220 million for Bitcoin purchases and mining equipment.

According to Gate News bot, Bloomberg reported that a cryptocurrency company linked to former U.S. President Donald Trump's family, American Bitcoin, raised $220 million on July 1 for the purpose of purchasing Bitcoin and digital asset mining equipment.

The company's supporters include Eric Trump, the son of Donald Trump. According to documents submitted by American Bitcoin major shareholder Hut 8 Corp., the company issued new shares to private investors last Friday. Notably, about $10 million worth of shares were sold in the form of Bitcoin rather than dollars.

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