Hut 8 Launches American Bitcoin, a New Bitcoin Mining Entity Co-founded by Eric Trump

Hut 8 has transferred a substantial number of its Bitcoin mining rigs to American Data Centers, Inc., a company backed by Eric Trump and Donald Trump Jr..

Hut 8, a well-known name in Bitcoin mining, has officially launched American Bitcoin. A new mining entity that aims to become a leader in the industry. This move comes as part of a strategic partnership, with Eric Trump, Co-founder of American Bitcoin, playing a significant role in its development.

The Trump family has been open about their interest in BTC mining, and this latest initiative solidifies their growing involvement in the sector.

Hut 8 has transferred a substantial number of its Bitcoin mining rigs to American Data Centers, Inc., a company backed by Eric Trump and Donald Trump Jr.. In exchange, Hut 8 acquired an 80% ownership stake, forming what is now called American Bitcoin.

This entity will operate as a separate mining powerhouse. It aims to optimize profitability and increase Bitcoin reserves. CEO of Hut 8 Asher Genoot highlighted the strategic relevance of this move:

“This transaction is a natural progression in our efforts to maximize value for Hut 8 shareholders. By carving out our mining business into a standalone entity, which will raise its own capital, we align each segment of the business with its respective cost of capital.”

This structure allows Hut 8 to concentrate on its broader goals, while American Bitcoin can focus on rapidly growing its mining operations. The company aims to drive Bitcoin Price stability by ensuring a steady output of mined Bitcoin, ultimately benefiting investors and the cryptocurrency market.

Eric and Donald Trump Jr. Support the Initiative

Eric Trump, co-founder of American Bitcoin has strongly backed the venture, calling it a major step in making the U.S. a key player in Bitcoin mining.

“We are honored to partner with Hut 8, a recognized leader in the Bitcoin space, as we launch American Bitcoin. By combining Hut 8’s proven operational excellence in data centers with our shared passion for BTC and decentralized finance, we are poised to strengthen our foundation and drive significant future growth.”

His brother, Donald Trump Jr., also expressed his enthusiasm for this initiative, pointing out the economic advantages of mining instead of just holding BTC.

“From the start, we’ve backed our conviction in Bitcoin—personally and through our businesses. But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity.”

With this backing, American Bitcoin is expected to scale operations quickly, attracting investors looking to gain exposure to BTC mining through a Trump-backed venture.

Hut 8 and American Bitcoin’s Impact

Hut 8 is a leading BTC mining company known for its large-scale operations in digital asset infrastructure. It specializes in high-performance and some of the most energy-efficient mining facilities in America. With a focus on sustainability, it has established itself as a major player in the Bitcoin mining industry.

The launch of American Bitcoin marks a significant expansion in the U.S. BTC mining space. With Hut 8’s infrastructure and the Trump family’s influence, this project is positioned to make an impact.

As institutional interest in BTC mining grows, this development could play a role in shaping the Bitcoin Price and market stability. Investors and industry experts will be watching closely to see how American Bitcoin evolves in the coming months.