Trump Family Expands Bitcoin and Crypto Portfolio by Investing in Mining Venture

The Trump family is expanding its growing bitcoin and crypto portfolio by investing in a new bitcoin mining venture called American Bitcoin.

Donald Trump Jr. and Eric Trump are investing in a new bitcoin mining venture called American Bitcoin.

The Trump boys' firm, American Data Centers, is merging with publicly traded bitcoin miner Hut 8 in a deal to launch the new company. The Trump brothers will own a 20% stake in American Bitcoin, with Hut 8 holding the remaining 80%.

The deal will bring 61,000 mining machines from Hut 8 into American Bitcoin. The company also plans to build its own “bitcoin reserve” by retaining mined coins.

Eric Trump, who will be American Bitcoin’s chief strategy officer, compared bitcoin’s properties as a hard asset to real estate. And he said they will be aiming to mine bitcoin more efficiently than rivals by leveraging Hut 8’s low-cost North American data centers.

That could become a key advantage as bitcoin mining gets more difficult over time, and as it becomes more expensive due to rising energy prices.

The Trump family has been rapidly expanding its bitcoin and crypto portfolio. Earlier this year, they launched a venture to develop a new stablecoin. And they have spoken about the potential of meme coins.

American Bitcoin will be a separate venture from the Trump Organization empire. But its bitcoin reserve plans tie in with President Trump’s vision for the U.S. to build its own strategic bitcoin reserve.

Bitcoin mining has faced environmental criticism for its role in increasing carbon emissions. But Eric Trump said American Bitcoin will benefit from access to low energy costs in the U.S., which could help it to mine bitcoin more sustainably.

"We are going to be able to mine Bitcoin in a way that is not only efficient, but also environmentally conscious," he said.

And focusing on mining makes it a more serious bitcoin bet than Trump's meme coins and stablecoin plans. The family's rapidly expanding bitcoin and crypto profile also reflects the broader narrative of the asset class entering the mainstream.