Hut 8 Corp. Launches American Bitcoin, a New Subsidiary Focused on Bitcoin Mining

The new subsidiary will focus on industrial-scale Bitcoin mining and strategic Bitcoin reserve development.

Hut 8, a publicly-traded crypto mining firm, has launched American Bitcoin, a new majority-owned subsidiary that will focus on industrial-scale Bitcoin mining and strategic Bitcoin reserve development.

The launch follows Hut 8’s contribution of most of its ASIC miners in exchange for a majority stake in American Data Centers, Inc. The company was later renamed American Bitcoin. The investor group behind American Data Centers includes Eric Trump and Donald Trump Jr.

Hut 8 to Provide Infrastructure and Operational Support

“We are pleased to announce the formation of American Bitcoin, which will carve out and expand on Hut 8’s core mining business. By aligning each segment of the business with its respective cost of capital, we will drive value for all stakeholders,” said Asher Genoot, CEO of Hut 8.

American Bitcoin will operate under Hut 8’s Compute segment. The results will be consolidated into Hut 8’s financial statements. Hut 8 will provide infrastructure and operational support under long-term agreements. These agreements will generate revenue for Hut 8’s Power and Digital Infrastructure segments.

“This transaction creates two focused yet complementary businesses, each purpose-built for its respective mandate. It evolves Hut 8 toward more predictable, financeable, lower-cost-of-capital segments and establishes American Bitcoin as a pure-play mining platform built for exahash growth, Bitcoin production, and operating leverage,” added Genoot.

American Bitcoin: Expanding Mining and Building Bitcoin Reserve

“We are honored to join forces with the Trump family and other distinguished investors in this endeavor. By combining Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance, we are poised to strengthen our foundation and drive significant future growth,” said Eric Trump, Co-founder of American Bitcoin.

American Bitcoin plans to expand its mining operations and build a strategic Bitcoin reserve. The company will leverage Hut 8’s mining expertise and infrastructure development capabilities.

“We’ve seen great interest in direct Bitcoin exposure and believe a new platform can serve this demand. But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity. We’re excited to bring investors into that equation through a platform engineered to execute on this thesis and deliver real, tangible participation in Bitcoin’s growth,” concluded Donald Trump Jr.