Trump-Backed American Bitcoin Buys 16,299 Bitmain Rigs in $314M Deal
The Trump-backed miner exercised its option for 16,299 Antminer U3S21EXPH units, funding the deal with Bitcoin collateral and cash.
American Bitcoin, a mining firm backed by members of President Donald Trump's family, purchased 16,299 Antminer U3S21EXPH units from Bitmain for roughly $314 million, adding about 14.02 exahashes per second of mining capacity.
American Bitcoin executed the purchase in August under an on-rack sales agreement with Bitmain covering up to 17,280 units. The company funded the transaction by pledging 2,234 BTC at a fixed price and applying a previously paid $46 million deposit.
The broader agreement allows American Bitcoin to acquire up to 17,280 miners representing about 14.86 EH/s for as much as $319.5 million, excluding tariffs and import charges. The pledged Bitcoin carries a 24-month redemption period, while remaining miners under the agreement must be paid within two months by cash or additional BTC pledges.
American Bitcoin plans to host the incoming fleet at Hut 8's Vega facility in Texas. The purchase supports the company's stated target of reaching 25 EH/s mining capacity.
Hut 8 disclosed the transaction details in its Q2 earnings report. The hosting company is preparing the Vega site in Texas to accommodate American Bitcoin's expanded mining operations.
American Bitcoin has been accumulating Bitcoin reserves, buying roughly 1,726 BTC between July 1 and August 6 for about $205.6 million, according to company disclosures.
The transaction comes amid U.S. tariff scrutiny of mining hardware produced in China. Bitmain has announced plans to open a Bitcoin mining hardware plant in the United States by the end of 2025 and is considering a U.S. headquarters location in Florida or Texas.
Some U.S. miners have recently received invoices from U.S. Customs and Border Protection for alleged import duties on rigs claimed to be of Chinese origin. Those cases remain under dispute.
Hashlabs CEO Jaran Mellerud warned that higher prices from tariffs could reduce demand among U.S. miners and leave manufacturers with excess inventory.
The Antminer U3S21EXPH units represent Bitmain's latest generation mining hardware designed for industrial-scale operations. American Bitcoin's order ranks among the larger institutional hardware purchases disclosed in 2025.
No additional comment was available from American Bitcoin, Hut 8 or Bitmain regarding the transaction details or future procurement plans.
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