Key Takeaways
- Hut 8 and Eric Trump launched a new Bitcoin mining firm named American Bitcoin.
- Hut 8 holds an 80% stake, while Eric Trump serves as chief strategy officer.
- American Bitcoin aims to mine BTC and build a strategic reserve, with plans to go public.
Bitcoin miner Hut 8 has partnered with Eric Trump to launch a new mining company, American Bitcoin, marking an increased push by the Trump family into the Bitcoin industry.
Company formation
Hut 8, based in Miami, has merged most of its mining operations into a new entity called American Data Centers — a company originally formed by a group of investors including Eric and Donald Trump Jr.
The entity has now been relaunched as American Bitcoin, with Hut 8 taking an 80% stake.
Strategic focus
American Bitcoin will focus primarily on mining and building a strategic Bitcoin reserve.
Eric Trump will serve as chief strategy officer, while Matt Prusak has been named CEO.
Vision for Bitcoin
Donald Trump Jr. said:
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.
Broader adoption
The Trump family’s move comes as former President Donald Trump positions himself as the “Bitcoin president,” pledging to support broader adoption in the U.S.
Operational partnership
Hut 8 will remain the exclusive infrastructure and operations partner for the new company, while its own business narrows focus to lower-volatility energy and digital infrastructure services.
Market reaction
U.S.-listed shares of Hut 8 rose 6.4% in premarket trading following the announcement, though they remain down 42.8% for the year.
Future plans
American Bitcoin has plans to eventually go public to expand its access to capital.
