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Trump Brothers' Crypto Mining Venture, American Bitcoin, Goes Public

The Trump brothers, Donald Trump Jr. and Eric Trump, have taken their crypto mining venture, American Bitcoin, public with a listing on the Canadian Securities Exchange (CSE).

The company, which was founded in 2019, has been mining Bitcoin and other cryptocurrencies since 2020. According to a press release, American Bitcoin has "a strong track record of profitability" and has generated over $10 million in revenue in the first half of 2022.

The IPO, which raised $10 million in funding, will help the company expand its operations and increase its mining capacity. The funds will also be used to develop new technologies and improve the company's energy efficiency.

"We are thrilled to take American Bitcoin public and provide our shareholders with a unique opportunity to invest in the growing cryptocurrency mining industry," said Eric Trump, CEO of American Bitcoin. "Our team has worked tirelessly to build a strong and profitable business, and we believe our listing on the CSE will help us take our growth to the next level."

The Trump brothers have been involved in various business ventures over the years, including a failed bid to build a Trump Tower in Moscow. However, their foray into crypto mining has been a relatively successful one, with American Bitcoin reportedly generating over $2 million in profit in the first quarter of 2022.

The listing on the CSE marks a significant milestone for American Bitcoin, which will be traded under the ticker symbol ABTC. The company's shares are expected to begin trading on August 25.