Eric Trump, Donald Trump Jr., and Hut 8 launch mining firm American Bitcoin
Key Takeaways
Hut 8 and Trump’s sons have launched a new Bitcoin mining entity named American Bitcoin Corp.
American Bitcoin aims to achieve over 50 EH/s and will be a publicly listed company.
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Eric Trump and Donald Trump Jr. have officially entered the Bitcoin mining industry, teaming up with Hut 8 to launch ‘American Bitcoin’ — a new mining company aiming to become the world’s largest and most efficient Bitcoin mining operation.
The announcement, released on March 31, follows a strategic merger between American Data Centers and American Bitcoin, which will now operate as a majority-owned subsidiary of Hut 8. Through this transaction, American Data Centers takes a 20% stake in American Bitcoin, while Hut 8 retains 80% ownership.
American Data Centers (ADC) is an AI infrastructure-focused company established by Dominari Holdings in collaboration with the two Trump sons. They are also part of Dominari’s advisory board.
American Bitcoin is focused on scaling mining operations, targeting over 50 EH/s and a fleet efficiency below 15 J/TH. Furthermore, adding Bitcoin as an asset to the company’s balance sheet is also a key item on its agenda.
“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,” said Eric Trump, co-founder of American Bitcoin.
According to Trump Jr., investing in mining provides a more direct stake in the network’s expansion and success compared to just owning Bitcoin.
“From the start, we’ve backed our conviction in Bitcoin—personally and through our businesses,” he stated. “But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity. 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.”
Discussing the establishment of American Bitcoin as a separate entity, Asher Genoot, the CEO of Hut 8, said it’s a strategic move to optimize financing and enable Hut 8 and American Bitcoin to concentrate on their core competencies.
“By carving out our mining business into a standalone entity, which will raise its own capital, we align each segment of the business with its respective cost of capital. The transaction creates two focused yet complementary businesses, each purpose-built for its respective mandate,” Genoot stated.
“It evolves Hut 8 toward more predictable, financeable, lower-cost-of-capital segments and establishes American Bitcoin as a pure-play mining platform built for exahash growth, Bitcoin production, and operating leverage,” he added
The new company’s leadership team will include Mike Ho as Executive Chairman, Matt Prusak as Chief Executive Officer, and Eric Trump as Chief Strategy Officer. The Board of Directors will consist of Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim.
Hut 8 will serve as American Bitcoin’s exclusive infrastructure and operations partner through long-term commercial agreements, providing ASIC colocation services, managed services, and day-to-day management through a shared services agreement.
According to Bitcoin Treasuries data, the prominent Bitcoin miner currently holds 10,273 Bitcoin, valued at approximately $841 million. This constitutes nearly 0.05% of the total Bitcoin supply and ranks the company as the sixth-largest public corporate holder of Bitcoin.
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