Gemini founders and Bitcoin billionaires, Tyler and Cameron Winklevoss, have invested in a crypto mining company linked to President Donald Trump’s sons. They invested in American Bitcoin Corp. through a private placement involving Bitcoin. The company merged with Gryphon Digital Mining Inc. to go public on the Nasdaq, holding $2 billion in Bitcoin.

The Winklevoss brothers’ investment in American Bitcoin coincided with a profitable period for BTC miners, with July being the most profitable month since the 2024 halving event. JP Morgan analysts noted that ten out of thirteen miners outperformed BTC price appreciation during this time. The price of Bitcoin hit a record high of $122,838 in July.

Following its peak, Bitcoin’s price has slightly decreased, currently trading at $117,453 with a 2% increase over the past 24 hours. The cryptocurrency experienced steady gains over the past two months before this slight pullback. The Winklevoss twins and other investors are positioning themselves in the crypto mining industry amidst these market fluctuations.

Read more at Yahoo Finance: Bitcoin Billionaire Winklevoss Bros Back Trump Sons’ Crypto Miner