Winklevoss Twins Invest in American Bitcoin Mining Company

The Winklevoss twins, co-founders of Gemini, have made a strategic investment in American Bitcoin, a mining company with ties to the Trump family. The investment deepens their relationship with the current administration, following a $2 million campaign contribution and participation in White House crypto events. Hut 8, a Bitcoin mining firm, is a majority owner of American Bitcoin, which aims to become one of the world's largest Bitcoin mining platforms.

The Winklevoss twins, co-founders of the cryptocurrency exchange Gemini, have made a strategic investment in American Bitcoin, a mining company with direct ties to the Trump family. This move deepens their relationship with the current administration, following their $2 million contribution to Trump’s 2024 campaign and participation in key White House crypto events [1].

American Bitcoin, co-founded by Donald Trump Jr. and Eric Trump, the sons of President Donald Trump, announced plans in May to go public through a merger with Gryphon Digital Mining (GRYP). The company is currently a majority-owned subsidiary of Hut 8 (HUT), another Bitcoin (BTCUSD) mining firm. Hut 8 CEO Asher Genoot confirmed the Winklevoss investment, although the specific amount remains undisclosed [2].

American Bitcoin's strategy focuses on low-cost mining, Bitcoin accumulation during favorable market conditions, and potential expansion into other Bitcoin ecosystem services. The venture aims to surpass Hut 8’s current holdings of over 10,000 BTC, worth approximately $1.2 billion [3].

Hut 8, a major shareholder in American Bitcoin, reported revenue of $41.3 million in Q2 2025, up 17% year-over-year, driven by infrastructure upgrades and the launch of American Bitcoin as a majority-owned subsidiary. The company’s "Power First" strategy positions it as an infrastructure provider rather than just a mining operator. Nearly 90% of the company’s energy capacity is now commercialized under contracts of one year or longer, compared to less than 30% in Q2 of 2024. This shift provides greater revenue predictability and reduces exposure to Bitcoin price volatility [4].

American Bitcoin launched in March 2025 as a majority-owned subsidiary of Hut 8 to concentrate on industrial-scale Bitcoin mining and long-term Bitcoin accumulation. The structure separates mining ownership and Bitcoin treasury focus away from Hut 8 so the parent company can focus on power and infrastructure. Per the business division, Hut 8 shifted all of its self-mining operations to American Bitcoin in exchange for an 80% stake in the company, and Hut 8 will provide the subsidiary with hosting space, power, and managed services [3].

The timing of the Winklevoss investment appears strategic as Gemini filed for its own IPO in June after the SEC dropped its investigation into the company’s Earn program. With Trump appointee Paul Atkins chairing the SEC, the regulatory environment has become more favorable for crypto companies [1].

The Winklevoss twins' investment in American Bitcoin is part of a broader trend of crypto companies seeking strategic partnerships and investments to bolster their positions in the industry. The investment also highlights the growing influence of the Trump administration in the crypto sector, with the administration promoting a pro-innovation stance while balancing regulatory clarity [5].

References:
[1] https://finance.yahoo.com/news/crypto-famous-winklevoss-twins-betting-110002113.html
[2] https://www.tradingview.com/news/the_block:a4c6a088a094b:0-winklevoss-twins-back-trump-sons-bitcoin-mining-firm-as-gemini-pursues-ipo-bloomberg/
[3] https://finance.yahoo.com/news/hut-8-10-q-reveals-141741743.html
[4] https://www.ainvest.com/news/bitcoin-news-today-bo-hines-resigns-white-house-crypto-chief-bitcoin-reserve-push-2508/