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.
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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 block rewards last week since 2022.
Hut 8’s stock, which trades on the Nasdaq under the HUT symbol, experienced an 8.36% increase in pre-market trading following the announcement of its partnership with Trump sons.
The stock previously closed at $11.72 per share on Friday, marking a 5.94% decrease for the day and a 42.80% decline year-to-date.
Trump Media to Team Up With Crypto.com In ETF Push
President Donald Trump's media company has signed a non-binding agreement to partner with Crypto.com in offering exchange-traded funds. Trump Media and Technology Group, which runs Trump's social media platform, Truth Social, announced the partnership Monday. The announcement noted that the ETFs would offer investors exposure to cryptocurrencies like Bitcoin, Cronos, and "diverse industries such as energy." TMTG CEO and Chairman Devin Nunes said that it was looking “to create inventive fu...
The new venture deepens the Trump family’s expanding crypto footprint. Since returning to the White House, President Donald Trump has doubled down on pro-crypto policies.
In recent months, the Trump family has launched the TRUMP memecoin, introduced a decentralized finance protocol called World Liberty Financial on Aave, and a week ago launched a stablecoin named USD1 on both Ethereum and Binance’s BNB Chain.
Trump’s media company has also signed a non-binding agreement with crypto exchange Crypto.com to launch exchange-traded funds, and Eric Trump was recently appointed to the strategic advisory board of Japanese Bitcoin investment firm Metaplanet, one of the top 10 corporate holders of Bitcoin.
Earlier this month, President Trump also signed an executive order to create a strategic crypto reserve, setting up digital assets as part of national financial policy.
Edited by Stacy Elliott.
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