Scaramucci Family Invests Over $100 Million in Trump Family Bitcoin Mining Company
The Scaramucci family invested over $100 million into American Bitcoin, the mining company backed by President Donald Trump's sons, according to Fortune. Solari Capital, founded by AJ Scaramucci, led the company's $220 million funding round in July 2025. The miner went public through a reverse merger in September but never disclosed its backers until now.
AJ Scaramucci told Fortune that Solari Capital contributed "over $100 million" without revealing the exact amount. His father, Anthony Scaramucci, also participated with a smaller investment. Other contributors included Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone, and entrepreneur Peter Diamandis.
The investment came despite a long-running feud between Anthony Scaramucci and Donald Trump. Anthony served as Trump's White House communications director in 2017 before being dismissed days later. He later endorsed Joe Biden and Kamala Harris in the 2020 and 2024 elections. However, AJ said politics played no role in the deal. "Bitcoin transcends politics," he told Fortune.
Personal Connections Drive Deal Structure
AJ Scaramucci sourced the investment through a personal connection established at Stanford University's business school. He was roommates with Matt Prusak, who now serves as American Bitcoin's president. When Prusak informed him that American Bitcoin would be spun out from Hut 8, AJ pushed for Solari to lead the round.
American Bitcoin mines and holds Bitcoin while also purchasing additional BTC on the open market. The firm currently holds 4,004 BTC, worth around $383.86 million, on its balance sheet. We reported that the US Bitcoin mining industry generates more than $4.1 billion in gross product annually and supports over 31,000 jobs nationwide. Twenty U.S. states are also considering legislation to add Bitcoin to their reserves.
AJ believes American Bitcoin can compete with publicly traded Bitcoin accumulation firms. These companies position their stock as a proxy for owning BTC. The company went public in September through a reverse merger with Gryphon Digital Mining on the Nasdaq exchange.
Growing Institutional Interest in Mining Infrastructure
The Scaramucci investment reflects broader institutional momentum in Bitcoin mining. Cointelegraph reports that Bitcoin mining pools in the US accounted for over 40% of the global Bitcoin network's hashrate in 2024. Research by EY-Parthenon and Coinbase found that 83% of 352 global institutions plan to increase their crypto allocations in 2025.
The average cost to mine one Bitcoin for US-listed miners reached $55,950 in the third quarter of 2024, according to Cointelegraph. Many mining companies are diversifying operations by allocating computing power to AI tasks. This strategy creates more resilient revenue streams beyond transaction fees and block rewards.
American Bitcoin represents the Trump family's entry into direct Bitcoin mining operations. Eric Trump serves as co-founder while Donald Trump Jr. holds an investor stake. The family also backs the crypto exchange World Liberty Financial and launched the $TRUMP meme coin in January. However, critics have raised concerns about potential conflicts of interest related to the Trump family's crypto ventures.
The mining sector faces challenges including energy costs and network competition. Bitcoin briefly dropped below $95,000 in recent weeks, about 25% lower than its early-October peak. Eric Trump stated that volatility remains a necessary trade-off for high returns in the Bitcoin market.
