HONG KONG (Realist English). American Bitcoin, a US cryptocurrency mining company backed by Donald Trump Jr and Eric Trump, is exploring acquisitions in Asia as part of an aggressive push to expand its bitcoin holdings, according to people familiar with the matter.
The company, which is already building a “strategic” bitcoin reserve, has approached investors about purchasing a listed company in Japan and potentially one in Hong Kong, three sources said. The aim is to use these vehicles to accumulate cryptocurrency, following the model popularised by Michael Saylor’s Strategy, which issues shares or debt to buy bitcoin.
The Trump family has ramped up its crypto activity in recent months, contributing to a rally in bitcoin prices and a boom in “crypto treasury” companies. Such firms allow investors to gain exposure to bitcoin through the stock market, avoiding the complexities of holding digital tokens directly. Strategy’s market value has soared to nearly $110bn, despite its bitcoin holdings being worth about $76bn.
In a statement, American Bitcoin said its ambition was “to build the strongest and most efficient Bitcoin accumulation platform in the world, with a focus on efficient operations, active treasury management, and long-term shareholder value creation.” It added that while it was assessing opportunities abroad, “we have not made any binding commitments.”
American Bitcoin differs from Strategy in that it also produces new bitcoin through mining. The company plans to go public in the US in September via a reverse merger with Nasdaq-listed Gryphon Digital Mining. Eric Trump is the firm’s co-founder and chief strategy officer.
Formerly known as American Data Centers, a wholly owned subsidiary of Dominari Holdings, the company rebranded in March after a joint venture with fellow miner Hut 8, which contributed its mining equipment in exchange for a majority stake. Eric and Donald Trump Jr were early investors, and both joined Dominari’s board of advisers in February. Dominari reported a 520% year-on-year revenue increase this week.
American Bitcoin is one of several Trump-linked crypto ventures. In June, former president Donald Trump disclosed $57mn in income from his involvement with World Liberty Financial, which has announced plans to buy $1.5bn of its own tokens with Las Vegas-based ALT5 Sigma. Trump Media & Technology Group, which operates Truth Social, has also said it aims to raise $2.5bn in equity and convertible debt to establish its own bitcoin treasury.
