Donald Trump Jr. and Eric Trump have teamed up with Bitcoin mine heavy Hut 8 to start American Bitcoin, a fresh industrial-scale mining company that plans to become the “world’s largest and most effective Bitcoin worker”.
Announced on March 31, the walk was born out of a corporate package in which Bitcoin mining firm Hut 8 contributed the majority of its mine equipment to American Data Centers Inc., a company backed by the Trump sons.
The company was subsequently rebranded as American Bitcoin—a majority-owned subsidiary focused primarily on industrial-scale Cryptocurrency miners and building a tactical Bitcoin reserve. Hut 8 has an 80 % rights interest, according to a statement Monday.
The move marks a major shift in strategy for Hut 8, as it separates its mine businesses into a solo institution while retaining its position as special facilities and operations companion.
” From the start, we’ve backed our faith in Bitcoin—personally and through our firms”, Donald Trump Jr. said in a speech. ” But simply buying Cryptocurrency is just half the story. Mine it on positive economy opens an yet bigger chance”.
American Bitcoin did run autonomously under the Hut 8 awning, while mining operations likely remain within the company’s Compute segment for financial reporting.
Hut 8 CEO Asher Genoot said the launch” creates two focused yet complementary businesses” and helps move Hut 8 toward “more predictable, financeable, lower-cost-of-capital segments”.
The partnership” combines Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance”, said Eric Trump.
The company, which now holds over 10, 000 BTC valued at more than$ 865 million, ranks as the fifth-largest corporate holder of Bitcoin globally, according to Bitcoin Treasuries data.
But the broader market remains volatile—the Bitcoin price fell 0.2 % to$ 82, 815 on Monday, while mining fees hit their lowest share of block rewards last week since 2022.
Hut 8’s stock, which trades on the Nasdaq under the HUT symbol, experienced an 8.36 % increase in pre-market trading following the announcement of its partnership with Trump sons.
The stock previously closed at$ 11.72 per share on Friday, marking a 5.94 % decrease for the day and a 42.80 % decline year-to-date.
The new venture deepens the Trump family’s expanding crypto footprint. Since returning to the White House, President Donald Trump has doubled down on pro-crypto policies.
In recent months, the Trump family has launched the TRUMP memecoin, introduced a decentralized finance protocol called World Liberty Financial on Aave, and a week ago launched a stablecoin named USD1 on both Ethereum and Binance’s BNB Chain.
Trump’s media company has also signed a non-binding agreement with crypto exchange Crypto.com to launch exchange-traded funds, and Eric Trump was recently appointed to the strategic advisory board of Japanese Bitcoin investment firm Metaplanet, one of the top 10 corporate holders of Bitcoin.
Earlier this month, President Trump also signed an executive order to create a strategic crypto reserve, setting up digital assets as part of national financial policy.
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