Hut 8 Announces Formation of American Bitcoin with Eric Trump
Bitcoin mining company Hut 8 announced on Monday the establishment of a new mining company, American Bitcoin, in collaboration with Eric Trump, the son of former U.S. President Donald Trump and Executive Vice President of the Trump Organization. Hut 8 holds a majority stake in American Bitcoin, which focuses on industrial-scale Bitcoin mining and the establishment of Bitcoin strategic reserves.
The formation of American Bitcoin follows Hut 8’s strategic transfer of nearly all its ASIC mining machines to American Data Centers in exchange for an 80% majority stake. American Data Centers was created by a group of investors including Eric Trump and Donald Trump Jr. As part of this transaction, American Data Centers was renamed and relaunched under the name “American Bitcoin.”
Hut 8 stated that all Bitcoin mining operations originally under its computing division will remain within that division but will operate under the American Bitcoin brand. In the initial phase, the financial results of American Bitcoin will be consolidated into Hut 8’s financial reports for reporting purposes. Hut 8 will serve as the exclusive infrastructure and operational partner for American Bitcoin through a series of long-term business agreements, providing stable contract revenue for its energy and digital infrastructure sectors.
According to the announcement, American Bitcoin aims to become the largest and most efficient pure Bitcoin mining company globally while building a robust Bitcoin strategic reserve, with the goal of becoming a publicly traded company. As co-founder and Chief Strategy Officer of American Bitcoin, Eric Trump stated:
