Crypto group backed by Trump sons scouts Bitcoin firms in Asia
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American Bitcoin, backed by Eric Trump, targets Asia expansion as the US builds a Bitcoin reserve under Trump’s crypto strategy.
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US President Donald Trump cuts the ribbon, standing between Donald Trump Jr., left, and Eric Trump, during an opening ceremony for the Trump International Golf Links golf course, near Aberdeen, Scotland, Tuesday, July 29, 2025. (AP)
A US-based cryptocurrency mining company, which has the backing of Donald Trump Jr. and Eric Trump, is actively searching for potential acquisition targets in Asia to expand its bitcoin mining operations, as revealed by individuals with knowledge of the situation.
American Bitcoin, which is already building its own "strategic" bitcoin reserve, has started exploring potential acquisitions in Asia by reaching out to investors for discussions, and the company is targeting the purchase of a listed firm in Japan with potential interest in another in Hong Kong, the Financial Times reported, citing three people familiar with the matter.
The company aims to leverage these acquisitions to accumulate cryptocurrency reserves, mirroring the strategy employed by Michael Saylor's business model utilized in Strategy.
Strategy vs. American Bitcoin
In a statement, American Bitcoin emphasized that its goal is to establish the most robust and efficient Bitcoin accumulation platform globally, prioritizing operational efficiency, proactive treasury management, and the sustained creation of value for shareholders.
“From that position of strength, we selectively explore accretive opportunities in other markets where we believe US leadership in Bitcoin can drive strong local demand. While we are evaluating possibilities in certain regions, we have not made any binding commitments,” the statement adds.
Unlike Strategy, American Bitcoin not only accumulates bitcoin but also generates new coins through mining, and the company is preparing for its US public debut in September via a reverse merger with Gryphon Digital Mining, a Nasdaq-listed mining firm.
Eric Trump serves as co-founder and chief strategy officer of American Bitcoin, which represents just one of several cryptocurrency-related business endeavors associated with the Trump family.
'Crypto capital of the world'
This comes as the Trump administration moves forward with its plans to build a Bitcoin US strategic reserve, part of its goal to turn the United States into the "crypto capital of the world."
During a statement on Thursday, US Treasury Secretary Scott Bessent revealed that the value of the United States' Bitcoin holdings currently ranges between $15 billion and $20 billion.
Bessent clarified that the Trump administration currently has no intention of either purchasing additional Bitcoin or selling any from its existing reserves, with the government's strategy instead focused on gradually increasing its cryptocurrency holdings through assets seized in law enforcement operations.
