The Scaramucci family has invested over $100 million in American Bitcoin, a mining company associated with U.S. President Donald Trump's sons.
The funding comes from Solari Capital, an investment firm founded by AJ Scaramucci, which led a $220 million funding round for the company in July. A few months later, American Bitcoin went public through a reverse merger in September, according to Fortune magazine. The mining company had previously not disclosed its backers.
AJ Scaramucci told Fortune that Solari Capital contributed "over $100 million," but he did not disclose the exact amount. His father, Anthony Scaramucci, also participated with a smaller investment.
Other reported investors include Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone, and entrepreneur Peter Diamandis.
This investment comes against the backdrop of Anthony Scaramucci's long-standing discord with Donald Trump. Scaramucci briefly served as Trump's White House communications director in 2017 before being fired days later, and he later became a vocal critic, supporting Joe Biden and Kamala Harris in the 2020 and 2024 elections.
However, AJ stated that politics did not play a role in this deal. "Did my father and Trump have a lot of back-and-forth? Of course," he told Fortune. "But Bitcoin transcends politics." Anthony reportedly also referred to Bitcoin as the "orange camp" that transcends partisan divides.
AJ reportedly secured this investment through long-standing personal relationships. He was roommates with current American Bitcoin president Matt Prusak while attending Stanford Graduate School of Business.
When Prusak informed him that the mining company would be spun off from Hut 8, AJ pushed for Solari to lead the funding round. He expressed confidence that the company could compete with publicly traded Bitcoin accumulation companies, including those positioning their stocks as proxies for holding BTC.
American Bitcoin mines and holds Bitcoin while also purchasing additional BTC on the open market. According to data from BitcoinTreasuries.NET, the company holds 4,004 BTC on its balance sheet, valued at approximately $383.86 million.
In a recent interview with The Wall Street Journal, Eric Trump stated that the current cryptocurrency slump is not a cause for concern, calling volatility a necessary price for high returns. His comments came as Bitcoin briefly dipped below $95,000, about 25% lower than its peak in early October.
Related: Czech National Bank invests $1 million for the first time to test Bitcoin (BTC) against other crypto reserves
Original: “Scaramucci Family Invests Over $100 Million in Trump-Linked Bitcoin Miner American Bitcoin”
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