Eric and Donald Trump Jr. Lead American Bitcoin Mining Launch

Hut 8 Corp. has launched American Bitcoin Corp., a new subsidiary aimed at large-scale Bitcoin mining and the development of strategic Bitcoin reserves.

Eric and Donald Trump Jr. are involved in a new venture that aims to relaunch American Bitcoin mining.

Hut 8 Corp., a Canadian cryptocurrency mining firm, is launching American Bitcoin Corp., a subsidiary focused on large-scale Bitcoin mining and the development of strategic Bitcoin reserves.

This move follows Hut 8’s decision to transfer most of its ASIC miners in exchange for an 80% stake in American Data Centers, Inc., which is now being rebranded as American Bitcoin.

The company is backed by Eric Trump and Donald Trump Jr., who join the Board of Directors.

American Bitcoin will serve as the world’s largest and most efficient Bitcoin miner.

Eric Trump, who takes on the role of Chief Strategy Officer, described the partnership as a pivotal step forward, combining Hut 8’s operational expertise with a shared vision for Bitcoin’s future.

“We’re launching American Bitcoin to create the world’s largest and most efficient Bitcoin mining operation,” said Donald Trump Jr., Chief Impact Officer of the Trump Organization.

“Everyone talks about the long-term value of holding Bitcoin, but there’s an even bigger opportunity in mining it on favorable economics,” he added.

American Bitcoin will be a separate entity from Hut 8, with its own financial structure.

This will allow each segment to focus on its own strengths and drive growth more efficiently.

Hut 8 will continue to concentrate on providing best-in-class infrastructure and operations, while American Bitcoin will focus on its core competency of mining and building up its Bitcoin reserves.

The leadership team at American Bitcoin includes Mike Ho (Executive Chairman), Matt Prusak (CEO), and Eric Trump (Chief Strategy Officer).

The Board of Directors will also feature Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim.

Hut 8 will provide exclusive ASIC colocation and management services for American Bitcoin as part of a shared services agreement.

With this change, Hut 8’s mining operations will now operate under the American Bitcoin brand while staying within Hut 8’s Compute segment.

Hut 8 will continue to serve as the exclusive infrastructure and operations partner for American Bitcoin, entering long-term agreements designed to generate stable and sustainable revenue for both entities.

This move marks a significant chapter in the Bitcoin mining industry.