The Gebroeders Winklvossi invest BTC in a mining project related to Trump | Bitcoinist.com

According to Bloomberg reportThe twin-bitcoin-Billionaires Cameron and Tyler Winklvossi invested money in a new mining company with direct ties with the Trump family.

American Bitcoin Corp., associated with Eric Trump and Donald Trump Jr., was founded earlier this year.

The amount that the twins have invested is not announced. General Manager Hut 8 Corp. However, Asher Genut confirmed that their contribution was part of the private placement for an amount of $ 220 million, which was recently completed. An increase, which included both cash and bitcoins, was described both the excess of the subscription amount during the last announcement of the income from Hut 8.

Political and cryptocurrency tires get better

This is not the first time the paths Gemini Winklvoss And the Trump families cross each other. Earlier, the Gemini made donations to President Donald Trump’s election campaign.

They were also present at the cryptocurrency -top in the White House in March and in the signing of recent legislation on cryptocurrency.

Genut said that the structure of the company will offer the scale and capital needed for competition in the bitcoin mine industry.

American Bitcoin Corp. She started his activities in March thanks to cooperation with Hut 8, which owns 80% of the company. The remaining 20% belongs to the American Data Centers, a company that is supported by Eric Trump and Donald Trump Jr. Eric is also the director of the company for strategic planning.

According to earlier Bloomberg reports, the share can be estimated at $ 367 million after the company has introduced the stock exchange.

The company is planning to reach the fair by combining all shares with GryPhon Digital Mining Inc., registered on the Nasdaq, traded under the ABTC Ticer. This week the shareholders of GryPhon started to vote on the transaction. In the case of approval, it is expected that cooperation will be completed at the beginning of September.

American Bitcoin states that it will focus on mining as keeping BTC, so that a long -term reserve is formed from its own production. Winklvoss Gemini management of cryptocurrency exchange TwinIntroduced their share in bitcoins, according to reports. The representative of Gemini refused to comment on the investment.

The mining sector is confronted with stricter competition

The involvement of the US Bitcoin $ 220 million signals aggressive expansion plans. The Hut 8 documents indicate that recently issued shares of around $ 10 million have been sold for Bitcoins, and not for cash, which reflects the purpose of the company to lead the accumulation of assets.

Donald Trump Jr. Said that mining, along with holding Bitcoins, would occupy a central place in the long -term strategy of the company.

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