Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Anthony Scaramucci and his son, AJ Scaramucci, have allocated over $100 million into American Bitcoin, the Bitcoin mining and treasury enterprise co-founded by Eric Trump and supported by Donald Trump Jr., despite the elder Scaramucci’s well-known political conflict with the former president.
As reported by Fortune, the investment was facilitated through Solari Capital, an investment firm established by AJ Scaramucci, which led a $220 million funding round in July prior to American Bitcoin going public through a reverse merger in September.
The Scaramucci family’s support bridges political divides, with Bitcoin acting as a shared interest among former rivals.
Other contributors in the funding round comprised life coach Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone, and serial entrepreneur Peter Diamandis.
SkyBridge Capital founder Anthony Scaramucci (left) with Eric Trump (middle) and Asher Genoot, chairman of American Bitcoin. | Source: Fortune
Former Rivals Unite Behind Bitcoin Treasury Strategy
Anthony Scaramucci’s short-lived 11-day tenure as White House communications director in 2017 concluded dramatically following reports of a profanity-laden tirade against Trump staff members.
Since that incident, the SkyBridge Capital founder has emerged as a prominent critic of Trump, endorsing Joe Biden in 2020 and Kamala Harris in 2024.
However, Trump’s endorsement of cryptocurrency during his 2024 reelection campaign fostered an unexpected alignment between the families.
“There may be a blue and a red team, but there’s also an orange team, and that’s Bitcoin,” Anthony Scaramucci remarked to Fortune, alluding to the cryptocurrency’s distinctive color.
AJ Scaramucci secured the deal through his close friendship with Matt Prusak, the president of American Bitcoin, and his former roommate from Stanford business school.
The younger Scaramucci recognized potential in the company’s dual strategy of mining Bitcoin while acquiring additional assets in the open market, believing it could thrive in the crowded market of public Bitcoin treasury firms.
“The Scaramuccis genuinely believe in American Bitcoin’s mission, and they were ready to set aside their personal differences and state, ‘Look, we think this is a fantastic company,’” said Asher Genoot, chairman of American Bitcoin.
Related Posts
The organization has swiftly increased its Bitcoin treasury to 4,004 BTC valued at approximately $415 million, adding 139 BTC between October 24 and November 5 alone, positioning it as the 25th largest corporate Bitcoin holder in accordance with bitcointreasuries.net.
American Bitcoin (@ABTC), supported by @EricTrump and Donald Trump Jr., has grown its holdings to 4,004 BTC valued at $415 million. #Trump #Crypto https://t.co/u2gPQgvyzM
— Cryptonews.com (@cryptonews) November 8, 2025
American Bitcoin (@ABTC), supported by @EricTrump and Donald Trump Jr., has grown its holdings to 4,004 BTC valued at $415 million. #Trump #Crypto https://t.co/u2gPQgvyzMMining Industry Faces Mounting Profitability Crisis
The investment arrives as Bitcoin mining encounters its most difficult landscape in years, with hash prices dropping to around $42 per petahash per second from $62 in July.
This metric, which gauges daily revenue per unit of computational power, is nearing the break-even point that could push smaller miners offline.
April’s Bitcoin halving reduced block rewards from 6.25 BTC to 3.125 BTC while network hashrate surged past one zetahash per second for the first time, resulting in a profitability crunch across the sector.
Major miners are adapting by shifting towards artificial intelligence infrastructure, with Cipher Mining finalizing a $5.5 billion agreement with Amazon Web Services in October and IREN securing a $9.7 billion deal with Microsoft in November.
Last Friday, Bitfarms took the most significant step by completely exiting Bitcoin mining, announcing Thursday that it will phase out operations over 2026 and 2027 after reporting a $46 million loss in the third quarter.
The company will repurpose its Washington State facility to accommodate AI workloads utilizing Nvidia’s next-generation GB300 GPUs under a fully funded $128 million binding agreement.
@Bitfarms_io shares fell 18% as it revealed a shutdown of $BTC operations to transition to AI infrastructure following a $46M Q3 loss. #Bitcoin #AI https://t.co/3Q7tsldFzS
— Cryptonews.com (@cryptonews) November 14, 2025
American Bitcoin’s approach is akin to that of Strategy, previously known as MicroStrategy, which holds over 641,000 BTC worth around $66 billion, making it the largest corporate Bitcoin holder globally.
Significantly, the Trump family’s broader cryptocurrency initiatives have yielded approximately $1 billion in pre-tax profits over the past year through tokens such as TRUMP and MELANIA, which generated $427 million, and WLFI, which contributed $550 million.
Their USD1 stablecoin has garnered $2.71 billion in reserves, backed one-to-one by U.S. Treasuries.
The post Scaramucci Family Pours $100M Into Trump Sons’ Bitcoin Mining Firm appeared first on Cryptonews.
