- Hut 8 and the Trump family launched American Bitcoin for industrial-scale BTC mining.
- American Bitcoin aims for 50+ EH/s and plans to build a strategic Bitcoin reserve.
- Eric Trump and Donald Trump Jr. hold leadership roles and equity in the new mining venture.
Hut 8 has announced a new venture with Eric Trump and Donald Trump Jr. to launch American Bitcoin. The company will focus on large-scale Bitcoin mining and strategic reserve development. The platform will operate as a majority-owned subsidiary of Hut 8 and marks a major step in the Trump family’s growing involvement in the digital asset space.
Formation of American Bitcoin
According to a press release on March 31, the company was formed after Hut 8 transferred a large share of its ASIC mining equipment to American Data Centers Inc. This entity was then renamed American Bitcoin, and Hut 8 now holds 80% of the company.
The remaining shares belong to a private investor group that includes Eric and Donald Trump Jr. Eric Trump will serve as Chief Strategy Officer and Donald Trump Jr. also holds a leadership role in the new entity. Both will help guide operations and direction.
Hut 8 will provide long-term infrastructure and services support to American Bitcoin. Although operating under a separate brand, American Bitcoin’s financials will still be included in Hut 8’s reporting. The company says this approach will improve capital management and segment performance.
The new company aims to reach a hash rate of over 50+ EH/s. It also targets an average fleet efficiency below 15 joules per terahash. These numbers place it among the top players in the mining industry.
Leadership and Strategic Roles
Alongside mining, American Bitcoin will build a strategic Bitcoin reserve. This aligns with the trend of companies holding Bitcoin as a treasury asset to hedge risk and store long-term value.
The board of directors includes Hut 8 CEO Asher Genoot, Executive Chairman Mike Ho, and tech investors Justin Mateen and Michael Broukhim. Matt Prusak will act as CEO of American Bitcoin.
Related: Metaplanet Appoints Eric Trump To Strategic Board of Advisors
The Trump family has steadily increased its involvement in crypto. Earlier this month, a Trump-affiliated firm invested $2 million in BlackRock’s Bitcoin ETF. Eric Trump also joined Metaplanet, Japan’s biggest Bitcoin holder, as a strategic advisor. President Trump has also signaled support for Bitcoin through executive orders. These include backing a Strategic Bitcoin Reserve and excluding memecoins from securities laws.
American Bitcoin plans to become the world’s most efficient and powerful miner. The partnership combines political capital, corporate scale, and deep infrastructure. It adds a bold new competitor to the rapidly growing institutional mining space.
