- Eric Trump and Hut 8 announced American Bitcoin, a new industrial-scale BTC mining and strategic reserve development company.
- The new business is a revamped version of American Data Centers, a company that Eric and Donald Trump Jr. co-founded.
When President Donald Trump said he would make the US a Bitcoin (BTC) mining powerhouse, he was definitely serious about it. Now, his family is doubling down on his promise.
Hut 8 Partners with Eric Trump and Donald Trump Jr-backed Company
Today, Hut 8, one of the leading Bitcoin mining companies in the world by market cap, announced a major partnership with Eric Trump. Together, they unveiled American Bitcoin, a majority-owned subsidiary of Hut 8 that exclusively centers on industrial-scale BTC mining and reserve development.
According to a press release, the company serves as a merger with American Data Centers, a company formed by Eric with his older brother Donald Trump Jr. and other investors. It’s worth noting that the Trump-backed entity keeps a 20% stake in the new business.
American Bitcoin aims to position itself as “the world’s largest, most efficient pure-play Bitcoin miner.” It also targets to build a stockpile of the largest crypto asset in the world in terms of market cap. The business leverages Hut 8’s Bitcoin mining capabilities and the Trumps’ expertise in the market, as well as their strategic goal of advancing the mechanisms of the financial system through the adoption of digital assets.
“It is a great honor to partner with Hut 8, a recognized leader in the Bitcoin space, as we launch American Bitcoin,” stated Eric via a press release. “By combining Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance, we are poised to strengthen our foundation and drive significant future growth.”
“From the start, we’ve backed our conviction in Bitcoin—personally and through our businesses,” stated Donald Jr. “But simply buying Bitcoin is only half the story.”
“Mining it on favorable economics opens an even bigger opportunity,” the older Trump brother added. “We’re excited to bring investors into that equation through a platform engineered to execute on this thesis and deliver real, tangible participation in Bitcoin’s growth.”
Trump Family’s Conflicts of Interest
Launching the new Trump-backed Bitcoin mining venture adds to the piling criticism over President Trump’s allegations of conflicts of interest. This all started when the elder Trump started advocating for Bitcoin and crypto during last year’s presidential campaign.
Trump amplified the controversy as he and his family got more involved in crypto-related ventures while his administrative policies shifted favorably toward digital assets. Now, here’s another issue that will indeed sow more discord even from crypto community members.
