The Scaramucci family has invested over $100 million into American Bitcoin, a mining company notably backed by President Donald Trump's sons. This significant investment was disclosed following a $220 million funding round led by Solari Capital, a firm founded by AJ Scaramucci, in July 2025. American Bitcoin, which went public through a reverse merger in September, had not previously revealed its key financial backers.
AJ Scaramucci confirmed to Fortune that Solari Capital contributed "over $100 million" to the funding round, though the precise figure was not specified. His father, Anthony Scaramucci, also made a smaller personal investment. The round saw participation from other notable figures including Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone, and entrepreneur Peter Diamandis.
This investment occurs despite a history of public disagreements between Anthony Scaramucci and Donald Trump. Anthony Scaramucci served briefly as Trump's White House communications director in 2017 and later endorsed Joe Biden and Kamala Harris in subsequent elections. However, AJ Scaramucci emphasized that political considerations were not a factor in the deal, stating, "Bitcoin transcends politics."
Personal Connections Drive Deal Structure
AJ Scaramucci facilitated the investment through a personal connection forged during his time at Stanford University's business school. He was roommates with Matt Prusak, who currently holds the position of president at American Bitcoin. Upon learning that American Bitcoin was to be spun out from Hut 8, AJ actively pursued Solari Capital's involvement to lead the funding round.
American Bitcoin is engaged in mining and holding Bitcoin, in addition to acquiring additional BTC on the open market. The company's balance sheet currently holds 4,004 BTC, valued at approximately $383.86 million. Previous reports indicated that the U.S. Bitcoin mining industry generates over $4.1 billion in gross product annually and supports more than 31,000 jobs nationwide. Furthermore, twenty U.S. states are actively considering legislation to incorporate Bitcoin into their reserves.
AJ Scaramucci expressed confidence in American Bitcoin's ability to compete effectively with publicly traded companies focused on Bitcoin accumulation, which market their stock as a proxy for direct BTC ownership. The company achieved its public status in September via a reverse merger with Gryphon Digital Mining on the Nasdaq exchange.
Growing Institutional Interest in Mining Infrastructure
The investment by the Scaramucci family aligns with a broader trend of increasing institutional engagement in Bitcoin mining infrastructure. Reports indicate that Bitcoin mining pools based in the U.S. accounted for over 40% of the global Bitcoin network's hashrate in 2024. Research conducted by EY-Parthenon and Coinbase found that a substantial 83% of 352 global institutions surveyed plan to increase their cryptocurrency allocations in 2025.
The average cost to mine a single Bitcoin for U.S.-listed miners reached $55,950 in the third quarter of 2024. To create more robust revenue streams beyond traditional transaction fees and block rewards, many mining companies are diversifying their operations by allocating computing power to artificial intelligence (AI) tasks. This strategic shift enhances their resilience against market fluctuations.
American Bitcoin signifies the Trump family's direct involvement in Bitcoin mining operations. Eric Trump serves as a co-founder, while Donald Trump Jr. holds an investor stake. The family is also associated with the crypto exchange World Liberty Financial and launched the $TRUMP meme coin in January. However, these crypto ventures involving the Trump family have drawn scrutiny and raised concerns about potential conflicts of interest.
The Bitcoin mining sector continues to navigate challenges such as significant energy costs and intense network competition. Bitcoin experienced a brief dip below $95,000 in recent weeks, representing a decrease of approximately 25% from its peak in early October. Eric Trump acknowledged that market volatility remains an inherent trade-off for the potential of high returns within the Bitcoin market.