Trump Family Launches American Bitcoin Corp. with Hut 8 for Efficient Mining

The Trump family, in collaboration with Hut 8 Corp., has launched a new Bitcoin mining venture named American Bitcoin Corp. This initiative aims to establish itself as the world's largest and most efficient pure-play Bitcoin miner while also building a strategic Bitcoin reserve. The venture is structured to isolate Bitcoin mining operations from core tech activities, thereby refining asset production and providing clearer financial metrics for investors.

Under the new agreement, American Bitcoin will absorb all Bitcoin mining activities previously managed by Hut 8’s Compute segment. Hut 8 will continue to play a central role by serving as the exclusive infrastructure and operations partner. This partnership is expected to support long-term revenue growth for Hut 8’s Power and Digital Infrastructure segments. The transition reflects Hut 8’s broader restructuring efforts to streamline its Bitcoin mining operations.

Eric Trump, co-founder of American Bitcoin, expressed enthusiasm about the venture, stating that combining Hut 8’s operational excellence with a shared passion for Bitcoin and decentralized finance will strengthen the foundation and drive significant future growth. Donald Trump Jr. highlighted that while holding Bitcoin has value, mining it under favorable conditions offers a stronger growth opportunity. Hut 8 CEO Asher Genoot noted that creating American Bitcoin as a standalone entity allows the mining division to scale independently and attract investment, while Hut 8 can focus on its infrastructure services, creating a more predictable and financeable structure for both companies.

The leadership team at American Bitcoin includes Mike Ho as Executive Chairman, Matt Prusak as CEO, and Eric Trump as Chief Strategy Officer. The Board of Directors will initially feature Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim. Hut 8 will provide ASIC colocation and managed services to American Bitcoin, ensuring a smooth transition and continued operational excellence. This new venture is seen as a significant development in the Bitcoin mining industry, signaling a shift towards more efficient and scalable operations.