Donald Trump Jr. and Eric Trump back new venture to launch the world's largest Bitcoin mining firm

Hut 8, a digital asset mining and infrastructure company, announced on March 30 that it is acquiring a majority stake in American Bitcoin

Several members of US President Donald Trump’s family are backing a new venture to launch what aims to become the world’s largest Bitcoin (BTC) mining firm.

Digital asset mining and infrastructure company Hut 8 is acquiring a majority stake in American Bitcoin, formerly known as American Data Center, and will be launching the new venture, according to an official statement on March 31.

The firm was founded by a group of investors, including Trump’s sons, Donald Trump Jr. and Eric Trump. As part of the deal, American Bitcoin will take ownership of Hut 8’s Bitcoin mining hardware.

The new venture aims to become the world’s largest, most efficient pure-play Bitcoin miner while building a robust strategic Bitcoin reserve.

The startup will operate a majority of Hut 8’s U.S. mining operations, which will remain under the firm’s compute segment but will operate through the American Bitcoin brand.

Entrepreneurs behind American Data Centers have backed their conviction in Bitcoin personally and through their businesses, Trump Jr. said.

The move continues President Trump’s promotion of pro-crypto policy as his family and affiliated companies expand their presence in the digital asset space.

On March 28, he pardoned three co-founders of crypto exchange BitMEX who previously pleaded guilty to federal money laundering charges, according to a CNBC report.

On March 21, the U.S. Treasury dropped the decentralized crypto mixer Tornado Cash from its sanction lists, thereby invalidating related legal proceedings.

Additionally, the Securities and Exchange Commission’s Division of Corporation Finance recently stated that memecoins do not qualify as securities under U.S. law.

Progress is also underway on the creation of a national Bitcoin strategic reserve.

On the commercial front, Trump launched his Official Trump (TRUMP) memecoin. His Trump Technology Group also announced a partnership with Crypto.com, which is expected to support a new suite of crypto exchange-traded funds.

The Trump family has been involved in launching a decentralized finance protocol on Aave called World Liberty Financial (WLFI), as well as introducing a new stablecoin named USD1.