JUST IN: Eric Trump, Who Said “Buy Ethereum” Before The Big Fall, Now Announces His New Bitcoin Move
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Hut 8 Mining, a leading Bitcoin mining company, has partnered with Eric Trump to launch American Bitcoin, a new initiative dedicated to large-scale Bitcoin mining and developing a strategic Bitcoin reserve. The initiative aims to make American Bitcoin a dominant force in the cryptocurrency mining industry.
American Bitcoin was founded with contributions from ASIC miners from Hut 8 in exchange for a majority stake in American Data Centers, a company founded by investors such as Eric Trump and Donald Trump Jr. The company has since rebranded as American Bitcoin.
Under the new structure, all Bitcoin mining operations that were previously part of Hut 8’s IT segment will continue under the American Bitcoin brand. However, these activities will still be reported in Hut 8’s financial statements. Hut 8 will remain the exclusive infrastructure and operations partner for American Bitcoin and will provide stable revenue streams through long-term agreements.
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American Bitcoin's primary goal will be to become the world's most efficient Bitcoin mining company while also building a robust Bitcoin reserve.
“It is a great honor to partner with Hut 8, a recognized leader in the Bitcoin space, in launching American Bitcoin,” said Eric Trump, co-founder of American Bitcoin. “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 growth in the future.”
Donald Trump Jr. also expressed his excitement, saying: “From the beginning, we have supported our belief in Bitcoin personally and through our businesses. But simply buying Bitcoin is only half the story. Mining it in favorable economic conditions presents a much greater opportunity. We are excited to bring this thesis to life and bring investors into the equation through a platform designed to provide real, tangible participation in Bitcoin’s growth.”
*This is not investment advice.
Continue Reading: JUST IN: Eric Trump, Who Said “Buy Ethereum” Before The Big Fall, Now Announces His New Bitcoin Move
