Trump Brothers Partner with Hut 8 for New Bitcoin Mining Venture

altcoin chronicle

01 Apr 2025 — 1 min read

Eric Trump and Donald Trump Jr. have partnered with bitcoin mining firm Hut 8 to establish American Bitcoin Corp., aiming to become the world's largest and most efficient bitcoin mining operation while building a strategic bitcoin reserve.

As part of the agreement, Hut 8 will transfer nearly all of its specialized bitcoin-mining machines to American Bitcoin in exchange for an 80% ownership stake. The Trump brothers' company, American Data Centers, will merge with American Bitcoin and retain a 20% stake.

Eric Trump will serve as the chief strategy officer of American Bitcoin, while Mike Ho, Hut 8's chief strategy officer, will take on the role of executive chairman. Matt Prusak, former chief commercial officer of Hut 8, will become the company's CEO.

This venture reflects the Trump family's growing involvement in the cryptocurrency industry, following previous initiatives such as the decentralized finance project World Liberty Financial. President Donald Trump has expressed his intention to make the U.S. a leading player in the crypto industry, aligning with the family's business endeavors in this sector.

However, some critics have raised concerns about potential conflicts of interest, given the family's political influence and the president's active role in promoting cryptocurrency policies.

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