Big Names Bet Big on Bitcoin Mining

The Scaramucci family has put over $100 million into American Bitcoin, a mining company with ties to former President Donald Trump’s sons. This investment came through Solari Capital, a firm started by AJ Scaramucci, which led a $220 million funding round back in July. The company went public later in September through a reverse merger, but the investors were not revealed until now. AJ Scaramucci shared that Solari Capital invested more than $100 million, though he didn’t specify the exact amount. His father, Anthony Scaramucci, also joined in with a smaller investment. Other big names involved include Tony Robbins, Charles Hoskinson (the founder of Cardano), Grant Cardone, and Peter Diamandis. This investment is interesting because Anthony Scaramucci and Donald Trump have had a rocky relationship. Anthony briefly worked as Trump’s White House communications director in 2017 but was fired after just a few days. He later became a vocal critic and even endorsed Joe Biden and Kamala Harris in recent elections. However, AJ Scaramucci made it clear that politics didn’t play a role in this deal. He said that Bitcoin is beyond politics and that his father and Trump have had their disagreements, but Bitcoin is a different story. Anthony even called Bitcoin the “orange team” that rises above political divides. AJ’s connection to American Bitcoin comes from his time at Stanford’s business school, where he was roommates with Matt Prusak, now the president of American Bitcoin. When Prusak mentioned the company was spinning out from Hut 8, AJ pushed for Solari Capital to lead the investment round. He believes the company can compete with other publicly traded Bitcoin firms. American Bitcoin doesn’t just mine Bitcoin—it also buys more on the open market. According to BitcoinTreasuries. NET, the company holds about 4, 004 BTC, worth around $383. 86 million. Despite recent drops in Bitcoin’s value, Eric Trump, one of Donald Trump’s sons, remains optimistic. He recently told The Wall Street Journal that volatility is just part of the game when it comes to high returns.