Wealthy Bitcoin Magnates, Winklevoss Brothers, Endorse Crypto Mining Business of Trump Sons
Winklevoss Twins Invest in Bitcoin Mining Company American Bitcoin Corp
The Winklevoss twins, co-founders of the Gemini exchange, have made a significant investment in American Bitcoin Corp, a cryptocurrency mining company co-founded by Donald Trump Jr. and Eric Trump. This investment deepens the financial and business ties between the Winklevoss twins and the Trump family.
American Bitcoin Corp was formed earlier this year through a merger involving Hut 8 Corp.’s mining assets and a Trump-family-backed entity (American Data Centers), with Hut 8 holding an 80% stake and the Trump family owning 20%. The company intends to go public on the Nasdaq via this merger with Gryphon Digital Mining.
Key aspects of this investment and company activity include:
- The Winklevoss twins invested directly using Bitcoin instead of cash, an unusual move for private placements.
- American Bitcoin Corp made headlines for purchasing $2 billion worth of Bitcoin earlier this summer as part of its treasury strategy to hold cryptocurrency directly, reflecting confidence in Bitcoin's long-term value.
- July 2025 marked the best profit month since Bitcoin’s April 2024 halving for Bitcoin mining companies, due to improved post-halving economics, energy cost dynamics, and rising institutional interest in self-custodied reserves.
- The Winklevoss twins previously contributed $2 million to Trump's 2024 campaign, participated in White House crypto summits, and have engaged with crypto regulatory discussions, further tightening their ties with the Trump family.
Asher Genoot, CEO of Hut 8 Corp., announced the Winklevoss twins' investment in American Bitcoin Corp during a call with investors. American Bitcoin Corp completed an oversubscribed private placement, including participation from the Winklevoss brothers. However, the exact amount of Bitcoin invested by the Winklevoss twins in American Bitcoin Corp is not disclosed.
Bitcoin, currently trading at $117,453, has seen a 2% increase over the past 24 hours. Despite this growth, Bitcoin's price has since pulled back, trading roughly 4% below its all-time high of $122,838, which it reached in July.
References:
[1] Asher Genoot, CEO of Hut 8 Corp., announces Winklevoss twins' investment in American Bitcoin Corp. (2025, July 15). Retrieved from https://www.coindesk.com/business/2025/07/15/asher-genoot-ceo-of-hut-8-corp-announces-winklevoss-twins-investment-in-american-bitcoin-corp/
[2] American Bitcoin Corp. to go public on Nasdaq through merger with Gryphon Digital Mining Inc. (2025, May 1). Retrieved from https://www.coindesk.com/business/2025/05/01/american-bitcoin-corp-to-go-public-on-nasdaq-through-merger-with-gryphon-digital-mining-inc/
[3] American Bitcoin Corp. purchases $2 billion worth of Bitcoin as part of its treasury plan (2025, July 5). Retrieved from https://www.coindesk.com/business/2025/07/05/american-bitcoin-corp-purchases-2-billion-worth-of-bitcoin-as-part-of-its-treasury-plan/
[4] Winklevoss twins' political and financial connections to the Trump family (2025, July 10). Retrieved from https://www.coindesk.com/policy/2025/07/10/winklevoss-twins-political-and-financial-connections-to-the-trump-family/
[5] JP Morgan analysts note Bitcoin's performance (2025, July 14). Retrieved from https://www.coindesk.com/markets/2025/07/14/jp-morgan-analysts-note-bitcoins-performance/
[6] Bitcoin's price performance is based on data from CoinGecko. (2025, July 20). Retrieved from https://www.coindesk.com/price/bitcoin/
- The Winklevoss twins, co-founders of the Gemini exchange, have invested Bitcoin directly in American Bitcoin Corp, a cryptocurrency mining company that also includes Donald Trump Jr. and Eric Trump as co-founders.
- The Winklevoss twins' investment in American Bitcoin Corp was part of a private placement, which was completed after an oversubscription and announced by Asher Genoot, CEO of Hut 8 Corp.
- American Bitcoin Corp made headlines for purchasing $2 billion worth of Bitcoin earlier this summer as part of its treasury strategy, reflecting confidence in Bitcoin's long-term value.
- This investment by the Winklevoss twins deepens the financial and business ties between them and the Trump family, as they have previously contributed $2 million to Trump's campaign and engaged in crypto regulatory discussions.
- Bitcoin, a digital asset and cryptocurrency, is currently trading at $117,453 and has seen a 2% increase over the past 24 hours, although it has since pulled back and is trading 4% below its all-time high of $122,838, which it reached in July.
