Scaramuccis Spearhead $220 Million Investment in Crypto Mining Firm with Trump Family Ties
NEW YORK – Anthony Scaramucci and his son, AJ Scaramucci, led a $220 million investment in American Bitcoin, a cryptocurrency mining firm spun off from Hut 8, Fortune has learned. The investment marks a rare instance of collaboration between the Scaramuccis and a company connected to the family of former President Donald Trump, despite Anthony scaramucci’s vocal opposition to Trump in recent years.
the deal, sourced by AJ scaramucci, comes as both the Scaramucci family and the Trump campaign have publicly embraced the cryptocurrency industry. Anthony Scaramucci, a longtime Bitcoin believer, reportedly told Fortune, “Ther might potentially be a blue and a red team, but there’s also an orange team, and that’s Bitcoin,” referencing the color most associated with the cryptocurrency. The Trump family’s increasing interest in crypto reportedly began after the former President came out in support of the industry during his 2024 reelection campaign.
American Bitcoin generates cryptocurrency through mining - solving complex mathematical puzzles to earn portions of the token – and also purchases Bitcoin on the open market. The company aims to compete with established players like Michael Saylor’s Strategy, offering investors stock market access to the world’s largest cryptocurrency.
AJ Scaramucci’s connection to American Bitcoin President Matt Prusak, a former Stanford University business school roommate, facilitated the investment. “Matt is one of my closest personal friends,” AJ Scaramucci said.
Asher Genoot, chairman of American Bitcoin, emphasized the Scaramuccis’ conviction in the company’s potential.”The Scaramuccis really believe in what American Bitcoin is doing, and they were willing to put kind of thier personal issues aside and say, ‘Look, we think this is a great company,'” he told Fortune.
The investment follows a period of public disagreement between Anthony Scaramucci and Trump. Scaramucci gained notoriety in 2017 for a profanity-laced rant against other Trump staffers, as reported by The New Yorker, and has as endorsed both Joe Biden and Kamala Harris for president. Despite this political shift, the shared enthusiasm for Bitcoin appears to have bridged the gap for this meaningful financial undertaking.
