The post Trump Sons Ink Deal With Hut8 to Launch Bitcoin Mining Firm appeared on BitcoinEthereumNews.com.

Donald Trump Jr. and Eric Trump have teamed up with Bitcoin mining heavyweight Hut 8 to launch American Bitcoin, a new industrial-scale mining firm that plans to become the “world’s largest and most efficient Bitcoin miner.” Announced on March 31, the venture was born out of a strategic deal in which Bitcoin mining company Hut 8 contributed the majority of its mining hardware to American Data Centers Inc., a company backed by the Trump sons. The firm was then rebranded as American Bitcoin—a majority-owned subsidiary focused exclusively on industrial-scale Bitcoin mining and building a strategic Bitcoin reserve. Hut 8 has an 80% ownership stake, according to a statement Monday. The move marks a major shift in strategy for Hut 8, as it separates its mining operations into a standalone entity while retaining its role as exclusive infrastructure and operations partner. “From the start, we’ve backed our conviction in Bitcoin—personally and through our businesses,” Donald Trump Jr. said in a statement. “But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity.” American Bitcoin will operate independently under the Hut 8 umbrella, while mining operations will 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…

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Filed under: News - @ March 31, 2025 11:18 pm