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Scaramuccis Back Trump Family’s Bitcoin Miner With Over US$100M Despite Political Rift
- American Bitcoin raised US$220 million (AU$336.6 million) pre-IPO, with Solari Capital investing over US$100 million (AU$153 million) and other high-profile backers joining.
- Despite Anthony Scaramucci’s past political rift with Trump, the family invested, emphasising that Bitcoin transcends politics.
- The company mines and accumulates Bitcoin, holding over 4,000 BTC (US$384 million / AU$587.5 million), with Eric Trump noting volatility is part of long-term growth.
American Bitcoin, the mining and accumulation venture co-run by Eric Trump and Donald Trump Jr., secured a US$220 million (AU$336.6 million) pre-IPO raise in July led by AJ Scaramucci’s Solari Capital. AJ Scaramucci confirmed that his firm’s contribution exceeded US$100 million (AU$153 million), though he opted not to provide a precise figure.
His father, Anthony Scaramucci, added his own smaller investment. Other contributors to the funding included Tony Robbins, Charles Hoskinson, Grant Cardone, and Peter Diamandis.
Anthony Scaramucci was removed from his White House communications role in 2017 after a brief and turbulent stint and later criticised Trump while backing Joe Biden and Kamala Harris in the 2020 and 2024 elections.
Despite that rift, AJ highlighted that the project was not influenced by the past and that “Bitcoin transcends politics”. Anthony Scaramucci has similarly described Bitcoin as belonging to an “orange team,” separate from partisan identity.
Related: Harvard Supercharges Bitcoin Bet With 257% Surge in ETF Holdings
Positioning for Public Market Competition
AJ Scaramucci became part of the deal through his long-standing friendship with Matt Prusak, now president of American Bitcoin. When Prusak revealed plans to spin the company off from Hut 8, AJ moved quickly to lead the Solari Capital investment, seeing the firm as able to compete with other public companies offering indirect Bitcoin exposure.
American Bitcoin both mines Bitcoin and adds to its reserves via market purchases. Public filings indicate it currently controls a little more than 4,000 BTC, valued at approximately US$384 million (AU$587.5 million), ranking it among the more substantial Bitcoin-holding public companies. The investment comes during a volatile period for the crypto sector, with Eric Trump recently downplaying the significance of a drop below US$95,000 (AU$145,350), arguing that such downturns are part of longer-term growth potential.
Related: Bitcoin User Accidentally Pays US$105K Fee to Send Just US$10
Author
Rachel Lourdesamy
Rachel is a freelance writer based in Sydney with experience within financial services, marketing, and corporate communications in the APAC region. An avid reader and a graduate of the University of Sydney, she covers topics including business, finance and human interest.
