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Donald Trump Jr. (left) and Eric Trump (second from left) arrive at the 60th Presidential Inauguration Parade at Capital One Arena in Washington, DC on January 20, 2025.
Eric Trump and Donald Trump Jr. will partner with Hat8 to create a new Bitcoin mining and reserve business.
Trump’s American data center merges with Hat8 to form American Bitcoin, with Hat8 holding 80% stake.
The venture aims to become the world’s largest and most efficient pure play Bitcoin miner.
Bitcoin Mining Platform Hat 8 (Hut) And the sons of Donald Trump joined forces to launch a new company called American Bitcoin, focusing solely on “industrial scale Bitcoin mining and strategic Bitcoin reserve development.”
In effect, Hut 8’s Application-Specific Integrated Circuit (ASIC) miners will acquire a majority stake in the US data center, including Eric Trump and Donald Trump Jr. as investors. The US data center will be renamed US Bitcoin as part of the arrangement. The transaction gives Hut 8 an 80% stake in American Bitcoin, with the owners of the US data center holding the other 20%.
Hut 8 said that what it aims for American Bitcoin is to “become the world’s largest and most efficient pure miner while building a robust strategic Bitcoin reserve.”
Eric Trump, who was appointed Chief Strategy Officer by three executives, said that when paired with Hut 8, “we are poised to strengthen our foundation and drive significant future growth.”
Donald Trump Jr. explained that while his family believes in Bitcoin “from the start” both personally and through his business, owning cryptocurrency is “only half of the story.” Trump Jr. added that mining it in favorable economics “opens up even greater opportunities.”
Hut 8’s shares, which rose 4% about 30 minutes after the opening bell, added about 11% of its value over the past year.
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