Hut 8 has announced a strategic partnership with Eric Trump to launch a new Bitcoin mining company called American Bitcoin, marking another step in the Trump family’s increasing involvement in the cryptocurrency industry.
Based in Miami, Florida, Hut 8 has merged the majority of its mining operations into American Data Centers, a venture backed by a group of investors including Eric Trump and Donald Trump Jr. This entity has now been rebranded as American Bitcoin, with an 80% stake held by Hut 8. The move signals a growing acceptance of cryptocurrency among mainstream investors and political figures.
Former President Donald Trump has repeatedly expressed his support for the digital asset space, vowing to become the “crypto president” and advocating for the widespread adoption of Bitcoin and other digital currencies in the United States.
Following the announcement, Hut 8’s U.S.-listed shares saw a 6.4% surge in premarket trading, though the company’s stock remains down 42.8% year-to-date as of the last closing price.
“From the start, we’ve backed our conviction in Bitcoin—personally and through our businesses,” stated Donald Trump Jr. “But simply buying Bitcoin is only half the story. Mining it under favorable economic conditions presents an even bigger opportunity.”
American Bitcoin will focus primarily on Bitcoin mining while simultaneously building a strategic Bitcoin reserve. The company will be led by CEO Matt Prusak, with Eric Trump serving as Chief Strategy Officer, overseeing its expansion and strategic direction.
Looking ahead, American Bitcoin plans to go public to increase its access to capital and strengthen its market position. Meanwhile, Hut 8 will shift its focus to energy and digital infrastructure, a move aimed at reducing exposure to the volatility of cryptocurrency markets. As part of this transition, Hut 8 will serve as the exclusive infrastructure and operating partner for American Bitcoin, ensuring continuity in operations and expertise.
This latest venture underscores the Trump family’s deepening engagement with the crypto sector and highlights the evolving landscape of Bitcoin mining as it moves further into the mainstream financial ecosystem.
By Alejandro Silva Ramírez, Crypto Analyst & Columnist