Scaramucci Family Invests $100M in Trump Sons’ Bitcoin Mining Firm
Anthony Scaramucci and his son, AJ Scaramucci, have invested over $100 million into American Bitcoin, a Bitcoin mining and treasury company co-founded by Eric Trump and backed by Donald Trump Jr. This investment comes despite the elder Scaramucci’s well-documented political feud with the former president. The Scaramucci family’s investment was made through Solari Capital, an investment firm founded by AJ Scaramucci, which led a $220 million funding round in July before American Bitcoin went public via a reverse merger in September.
Former Rivals Unite Behind Bitcoin Treasury Strategy
Other participants in the funding round included life coach Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone, and serial entrepreneur Peter Diamandis. The backing from the Scaramucci family transcends political divisions, with Bitcoin serving as a common ground between former adversaries. Anthony Scaramucci’s brief 11-day stint as White House communications director in 2017 ended spectacularly following reports of a profanity-laden rant against Trump staffers. Since then, the SkyBridge Capital founder has become a vocal critic of Trump, supporting Joe Biden in 2020 and Kamala Harris in 2024.
SkyBridge Capital founder Anthony Scaramucci (left) with Eric Trump (middle) and Asher Genoot, chairman of American Bitcoin. | Source: Fortune
Bitcoin Mining Industry Faces Challenges
The investment comes as Bitcoin mining confronts its most challenging environment in years, with hash prices plunging to around $42 per petahash per second from $62 in July. The metric, which measures daily revenue per unit of computational power, is approaching the break-even threshold that could force smaller miners offline. April’s Bitcoin halving cut block rewards from 6.25 BTC to 3.125 BTC while network hashrate surged past one zetahash per second for the first time, creating a profitability squeeze across the sector.
American Bitcoin’s strategy mirrors that of Strategy, formerly MicroStrategy, which holds over 641,000 BTC worth approximately $66 billion, making it the world’s largest corporate Bitcoin holder. Notably, the Trump family’s broader crypto ventures have generated roughly $1 billion in pre-tax gains over the past year through tokens including TRUMP and MELANIA, which brought in $427 million, and WLFI, which added $550 million. Their USD1 stablecoin has attracted $2.71 billion in reserves, backed one-to-one by U.S. Treasuries.
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