In a move that’s turning heads and raising eyebrows in the crypto space, Hut 8 – the digital asset mining and infrastructure company – has joined forces with President Donald Trump’s sons, Donald Trump Jr. and Eric Trump, to launch American Bitcoin Corp. This fresh-faced venture aims to become the world’s largest, most efficient pure-play Bitcoin miner while building a robust strategic Bitcoin reserve.
On March 31, 2025, Hut 8 announced that it was acquiring a majority stake in American Bitcoin, formerly known as American Data Center. This rebranding comes with a cheeky promise: the new subsidiary is aiming for an efficiency of 50+ exahashes per second (EH/s) in industrial-scale Bitcoin mining. Under the new structure, Hut 8 will hold an 80% ownership stake and continue operating its compute segment, but now with a dedicated brand that’s laser-focused on mining.
Donald Trump Jr. wasted no time in expressing his enthusiasm. “Mining it on favorable economics opens an even bigger opportunity,” he said. “We’re excited to bring investors into that equation through a platform engineered to execute on this thesis and deliver real, tangible participation in Bitcoin’s growth.” His words reaffirm the Trump sons’ conviction in Bitcoin—not only as a digital asset but as a transformative technology fueling their latest venture.
American Bitcoin’s leadership team is equally impressive. The executive chair is held by Mike Ho, while Matt Prusak takes the role of CEO and Eric Trump doubles as Chief Strategy Officer (CSO). The Board of Directors features heavyweights such as Mike Ho, Asher Genoot (who also serves as Hut 8’s CEO), Justin Mateen, and Michael Broukhim. With such a formidable lineup, the new venture is poised to leverage Hut 8’s mining hardware – currently valued at a Bitcoin price of around $82,973 – to kickstart a new chapter in crypto mining.
Hut 8’s CEO Asher Genoot described the launch as a “pivotal evolution” in the company’s strategy. He explained that by separating the mining business from the other corporate activities, Hut 8 intends to raise capital more efficiently and align each segment of the business with its respective cost of capital. In Genoot’s words, this move evolves Hut 8 toward more predictable, financeable, lower-cost-of-capital segments while establishing American Bitcoin as a pure-play mining platform built for exahash growth, increased Bitcoin production, and enhanced operating leverage.
The Trump family’s crypto push doesn’t stop here. Their broader involvement in the digital asset arena includes initiatives like World Liberty Financial and competitors’ ventures in launching stablecoins – their new USD1 token being one example – and even talks of further investments such as a potential stake in Binance.US. With President Trump himself promoting pro-crypto policy moves, the family is clearly signaling its determination to shape the future of digital finance in America. A crypto investor quipped that “while people fuss over daily BTC price action, President Trump and Eric Trump are busy building the infrastructure to take crypto to the next level.”
Hut 8 launches 'American Bitcoin' mining firm
— Gordon (@AltcoinGordon) March 31, 2025
Backed by Eric Trump and Donald Trump Jr.
While people are worrying about the daily price action, President Trump and Eric Trump are building the infrastructure to take crypto to the next level 🫡 pic.twitter.com/FJysBM23yW
Recent market dynamics add further color to the story. Hut 8 previously celebrated a milestone late in 2024 when it crossed $1 billion in Bitcoin holdings after acquiring 990 BTC for $100 million, bringing its total mining stock to 10,096 BTC at an average price of $24,484 per Bitcoin. And with Bitcoin mining revenue having approached $3.6 billion in Q1 2025 – amid a time when miners’ daily revenue per petahash per second holds steady at roughly $48 – the timing of this announcement appears to coincide with a period of industry stabilization following the last halving event.
American Bitcoin is not just another mining venture. It’s a symbol of a strategic pivot—a melding of traditional business principles with the wild, often unpredictable crypto market. With the Trump family’s backing and Hut 8’s infrastructure prowess, the venture aims to serve as a cornerstone for industrial-scale Bitcoin mining in the United States. As they set their sights on column inches of exahashes per second and robust strategic reserves, one thing is clear: the game is changing, and these movers and shakers are positioning themselves to be at the forefront of the next chapter in digital assets.
HODL Team
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