Despite a well-documented political rift, the Scaramucci family has reportedly invested over $100 million in American Bitcoin, a cryptocurrency mining firm with ties to the Trump family. The investment, led by AJ Scaramucci's firm, Solari Capital, represents a significant portion of a $220 million funding round completed in July.
American Bitcoin, co-founded by Eric Trump, with Donald Trump Jr. also participating as an investor, aims to become a leading player in the Bitcoin mining industry. The company went public in September through a reverse merger and is listed on the Nasdaq.
The Scaramucci's investment is particularly noteworthy given Anthony Scaramucci's history with Donald Trump. Scaramucci briefly served as White House Communications Director under President Trump before becoming a vocal critic. Despite this, both Anthony and AJ Scaramucci have expressed their belief in Bitcoin's long-term value, asserting that their investment transcends political affiliations. Anthony Scaramucci has stated that "Bitcoin is the 'orange team' and is an asset that moves separately from politics".
AJ Scaramucci also has close ties with American Bitcoin's president, Matt Prusak, who was his roommate at Stanford Business School. Prusak informed AJ that American Bitcoin was being spun off from Hut 8, leading to Solari Capital's investment.
Other notable investors in the $220 million funding round included Tony Robbins, Cardano founder Charles Hoskinson, Grant Cardone, and Peter Diamandis.
American Bitcoin has outlined its strategy to mine Bitcoin at costs below market prices and accumulate a substantial reserve of the cryptocurrency. As of mid-November 2025, the company reported holding 4,004 BTC, valued at approximately $415 million. In the third quarter of 2025, American Bitcoin mined 563 BTC, more than half of its total 1,006 BTC mined in the first three quarters of the year. This increase was attributed to the purchase of 17,280 Bitmain Antminer U3S21EXPH miners in August, which significantly boosted its hashrate.
The company's financial performance in Q3 2025 showed significant growth, with revenue reaching $64.2 million, a 453% increase year-over-year. Net income soared to $3.47 million, reversing a loss of $576,000 in the same period last year. American Bitcoin expanded its mining capacity roughly 2.5 times to 25 exahash per second (EH/s), with its fleet achieving an efficiency of 16.3 joules per terahash (J/TH).
Despite strong fundamentals, ABTC shares experienced volatility, reflecting broader crypto market trends. However, the company's strategic expansion and high-profile backing have attracted investor attention, positioning American Bitcoin as a noteworthy player in the digital asset space.
American Bitcoin was launched by Eric Trump and Donald Trump Jr., in partnership with Hut 8. Hut 8 contributed "substantially all" of its Bitcoin mining equipment in exchange for 80% of the company's shares, with the Trump family holding the remaining stake. Following the reverse merger in September, American Bitcoin began trading on the Nasdaq. The company operates mining facilities in locations including Niagara Falls in Canada and Texas, utilizing tens of thousands of mining rigs.
