Scaramucci Family Pours $100M Into Trump-Linked Bitcoin Miner

American Bitcoin, a mining company owned by President Trump’s sons, has received a major boost from the Scaramucci family. Solari Capital, an investment firm owned by the family, provided more than $100 million to support the company’s expansion.

The move adds fresh energy to the fast-growing Bitcoin mining sector and a support for digital assets beyond political differences. 

Large Investment From High-Profile Backers

Solari Capital led American Bitcoin’s $220 million funding round in July. This capital raise came months before the mining firm entered the public markets through a reverse merger. 

AJ Scaramucci, founder of Solari, confirmed that the firm provided over $100 million, while his father, Anthony Scaramucci, joined with a smaller investment.

They were not alone. Well-known names, including Tony Robbins, Charles Hoskinson, Grant Cardone and Peter Diamandis. also took part in the initial founding round. 

The inclusion of the Scaramuccis drew attention due to the past conflict between Anthony Scaramucci and Donald Trump. Anthony briefly served as Trump’s communications director in 2017. 

He later became a strong critic, supporting Joe Biden and Kamala Harris in later elections. In a recent statement, AJ Scaramucci stated that political issues had nothing to do with the decision, adding that Bitcoin stands above political divisions.

AJ Scaramucci Investments Rooted in Personal Connection

According to the report, AJ Scaramucci was introduced to the opportunity through a long-standing friendship. He once shared a room at Stanford’s business school with Matt Prusak, who now serves as president of American Bitcoin. 

When Prusak told him the mining company would be separated from Hut 8, AJ encouraged Solari Capital to lead the investment round. AJ said he believes American Bitcoin can compete with large, publicly traded companies that focus on buying and holding Bitcoin. 

The miner does more than just produce the coin, it also buys additional Bitcoin on the open market. Data from BitcoinTreasuries.NET shows that American Bitcoin holds 4,004 BTC, worth about $383.86 million.

American Bitcoin Backers Remain Confident Despite Price Drop

Although Bitcoin recently slipped below $95,000, about 25% lower than its early-October high, the company’s backers appear unfazed. In a recent interview with The Wall Street Journal, Eric Trump said the current downturn is not a problem. 

Like many other Bitcoin supporters, he argued that coin’s price swings are part of the trade-off for potentially high returns. Industry leaders and market experts have predicted short and long term price predictions for the flagship crypto. 

In the meantime, Standard Chartered analysts expect Bitcoin to recover and reach $200,000 by the end of this year.