A new Trump family-backed entity separates Bitcoin mining operations from core technology operations. The approach refines asset production and clarifies financial metrics for investors.
On Monday, Hut 8 Corp. announced the launch of American Bitcoin Corp., an industrial-scale Bitcoin mining venture formed in partnership with Eric Trump and Donald Trump Jr. in the United States.
In a press release, Hut8 said the initiative aims to establish itself as the largest and most efficient Bitcoin mining company and build a strategic Bitcoin reserve.
The move comes after Hut 8 donated the majority of its ASIC miners to American Data Centers, Inc., which has since been renamed American Bitcoin.
The move reflects a broader restructuring by Hut 8 to streamline its Bitcoin mining operations.
American Bitcoin Mining to Take Over Hut 8 Operations
Under the new agreement, American Bitcoin will take over all Bitcoin mining operations previously held by Hut 8’s Compute segment.
However, Hut 8 will remain central to the operation by acting as the exclusive infrastructure and operations partner.
The partnership is expected to support long-term revenue growth for Hut 8’s Digital Infrastructure and Power segments.
Eric Trump, co-founder of American Bitcoin, said: “By combining Hut 8’s proven excellence in data center operations with our shared passion for Bitcoin and decentralized finance, we are poised to strengthen our platform and drive significant growth going forward.”
Donald Trump Jr. added that while holding Bitcoin has value, mining it in favorable conditions offers a stronger growth opportunity.
Hut 8 CEO Asher Genoot noted that establishing American Bitcoin as a separate entity allows the mining division to scale independently and attract investment.
Meanwhile, Hut 8 can focus on infrastructure services, creating a more predictable and fundable structure for both companies.
Leadership and Operational Support
The leadership team at American Bitcoin will include Mike Ho as Executive Chairman, Matt Prusak as CEO, and Eric Trump as Chief Strategy Officer.
The initial board of directors will include Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim.
Under the agreement, Hut 8 will provide ASIC co-location and managed services to American Bitcoin, ensuring a smooth transition and maintaining operational excellence.
“When the Trump family started mining Bitcoin, you knew the game had changed. It was rocket fuel for the entire industry and a big signal to investors that now is the time to support real Bitcoin infrastructure,” Mati Greenspan, CFO of Quantum Expeditions, told Cryptonews.
