Polymarket Opens the Bitcoin Floodgates — and Traders Are Rushing In
Prediction platform Polymarket has expanded its funding options, allowing users to deposit Bitcoin directly — a move that comes as BTC trades near record-breaking levels.
XingChiLog in/ Sign up
Trump Family Partners with Hut 8 to Launch American Bitcoin, Aiming to Dominate U.S. Bitcoin Mining: Will They Succeed Amid Rising Mining Challenges?
Follow
Trump Family Expands Bitcoin Ambitions With New Mining Venture
The Trump family's growing interest in cryptocurrency has taken a major step forward with the launch of American Bitcoin, an industrial-scale mining company formed in partnership with Hut 8 Corp.
The venture, which involves Donald Trump Jr. and Eric Trump, aims to establish itself as the most efficient Bitcoin miner in the United States while also building a strategic Bitcoin reserve.
The initiative builds on Hut 8’s restructuring efforts, which have seen the company transfer a significant portion of its mining operations to the newly formed entity.
American Bitcoin will operate independently, allowing Hut 8 to focus on infrastructure and energy services while maintaining a key role in the mining business.
Hut 8 Transfers 60,000 Mining Machines To The New Entity
As part of the transition, Hut 8 has moved over 60,000 ASIC mining machines to American Bitcoin, solidifying its presence as a major player in the industry.
The deal does not involve any cash exchange, but Hut 8 retains an 80% ownership stake in the new company, with the Trump-backed group holding the remaining 20%.
Hut 8 will continue to support American Bitcoin through an exclusive infrastructure and operations partnership.
CEO Asher Genoot emphasised that this structure allows Hut 8 to “create a more predictable and financeable structure” while enabling American Bitcoin to scale independently and attract fresh investment.
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 will initially feature Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim.
Trump’s Growing Role In The Crypto Industry
The Trump family has been increasingly active in the digital asset space.
Beyond this mining venture, they have backed the DeFi protocol World Liberty Financial, which is preparing to launch its own stablecoin.
They have also been linked to Solana-based tokens such as TRUMP and MELANIA, although those have experienced sharp declines in value.
Through the official statement, Donald Trump Jr. expressed confidence in Bitcoin mining as a more lucrative approach than simply holding the asset.
He stated,
“From the start, we’ve backed our conviction in Bitcoin—personally and through our businesses. But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity.”
Eric Trump highlighted the partnership’s potential, saying,
“By combining Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralised finance, we are poised to strengthen our foundation and drive significant future growth.”
Eric Trump Joins Metaplanet to Boost Bitcoin Expansion as Advisor
Recently, Eric Trump has joined Metaplanet’s Strategic Advisory Board as the Japanese investment firm accelerates its Bitcoin-focused strategy.
Eric Trump, the third child of Donald Trump and Ivana Trump, is a businessman and former reality TV personality who serves as an executive at the Trump Organisation.
His expertise in business and finance, combined with his advocacy for digital assets, is expected to support Metaplanet’s goal of becoming a major Bitcoin treasury company.
The announcement follows the firm’s recent Bitcoin acquisitions, with plans to reach 10,000 BTC by the end of 2025.
Metaplanet’s stock surged over 17% after the news, reflecting investor confidence in its growth trajectory.
Hut 8 Shifts Focus While Maintaining Operational Control
Despite transferring its mining operations, Hut 8 will remain heavily involved in the business by providing ASIC colocation and managed services to American Bitcoin.
This ensures a smooth transition while reinforcing its position in the industry.
Hut 8’s decision to separate its mining division aligns with a broader trend in the sector, where firms seek to streamline operations and attract capital more effectively.
The company’s shares saw a modest increase following the announcement, though its year-to-date performance remains negative.
Industry experts see the Trump family’s involvement as a significant moment for Bitcoin adoption in the US.
Mati Greenspan, CFO of Quantum Expeditions, commented,
“When the Trump family starts mining Bitcoin, you know the game has changed. This is rocket fuel for the entire industry and a huge signal to investors that now is the time to back real Bitcoin infrastructure.”
With Bitcoin mining facing increasing challenges due to the recent halving event and regulatory uncertainty, the launch of American Bitcoin demonstrates a strong belief in the industry's long-term potential.
As the Trump family takes a more active role in shaping the future of Bitcoin mining, will their involvement catalyse further investment in the US crypto industry, or will the ongoing regulatory challenges hold back the sector’s growth?
Gain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveSG
Add Comment
LoginLeave your comments
0 Comments
Earliest
Load more comments
Related News
- XingChi
Legendary Investor Who Turned $100 Million From Black Monday Flags Bitcoin and Gold as Safest Bets in Speculative Market
Paul Tudor Jones warns today’s markets resemble the 1999 dot-com bubble, with high gains in gold, Bitcoin, and tech stocks but rising risks. He highlights bonds as the biggest threat and urges investors to watch closely while keeping some exposure to crypto and gold.
AnaisSanae Takaichi Elected Japan’s First Female PM with Markets Surging – Could This Unlock Cryptocurrency Tax Reforms?
Sanae Takaichi’s election as Japan’s first female prime minister sparks a surge in stocks and Bitcoin. Her pro-growth policies could pave the way for crypto tax reforms, though uncertainties remain.
WeatherlyMetaplanet Is Now the Fourth-Largest Public Bitcoin Holder After Latest 5,268 BTC Buy
Metaplanet bought 5,268 BTC, raising its total holdings to 30,823 BTC and making it the fourth-largest publicly traded bitcoin treasury.
AnaisHigh-Stakes Crypto-Treasury Strategies Put Over 200 Public Companies Under Investigation for Trading Abnormalities
US regulators are investigating over 200 companies for unusual stock trading ahead of crypto-treasury announcements, suspecting possible insider leaks. The SEC and FINRA are checking compliance with disclosure rules, with potential fines and sanctions if violations are found.
AnaisShareholder Dilution Rises as MicroStrategy Funds $1.1 Billion Bitcoin Buys Through Stock Sales
MicroStrategy bought 196 more Bitcoin, raising its total holdings to 640,031 BTC, but funded most purchases by issuing over 3 million new shares. This share dilution has raised concerns among investors as the company’s stock underperforms despite strong Bitcoin gains.
WeatherlyNew Turkish Bill Could Give Regulators Power to Freeze Bank and Crypto Accounts Linked to Crime
Turkey is preparing a law that would let its financial crime agency, Masak, freeze cryptocurrency and bank accounts linked to illegal activity. The rules also aim to strengthen oversight of crypto exchanges and curb the use of rented accounts and suspicious wallets.
AnaisHistoric Japanese Kimono Maker Marusho Hotta Rebrands as Bitcoin Japan and Launches Corporate Bitcoin Treasury
The company will change its name to Bitcoin Japan Corporation on 11 November 2025. It is launching a Bitcoin treasury business and plans to expand into related financial services.
WeatherlyKevin Durant’s Lost Bitcoin Multiplied 180x Before Recovery… So Why Are Other Coinbase Customers Still Stranded?
Nearly 10 years after losing access to his Coinbase account, NBA legend Kevin Durant has finally regained control of his long-dormant Bitcoin stash. But what began as a feel-good recovery story has unexpectedly stirred anger among Coinbase users who say their own pleas for help have gone unanswered.
XingChiNew Korean Drama ‘To The Moon’ Follows Three Women Chasing Big Wins in South Korea’s Explosive 2017–2018 Crypto Market
A new South Korean drama "To The Moon", follows three women investing in crypto during the 2017–2018 Bitcoin boom. It highlights the country’s $3.15 billion daily retail crypto market and growing regulatory oversight.
Joy
Live Updates
- CZ posted a photo with Masayoshi Son on X platformBullishBearish
Trending News
Prison-bound Hacker Orchestrates $1.2 Million Bitcoin Coup
Srikrishna Ramesh, known as Sriki, confined within a quarantine cell at Parappana Agrahara after his 2020 arrest. The notorious hacker allegedly orchestrated the movement of Bitcoins worth $1.2 million USD in just 22 minutes, triggering a Bitcoin scam that has left authorities scrambling.
AaronFormer Revolut Executives Launching Crypto Wallet "Zeal"
Revolut's former VP, Hannes Graah, launches Zeal in 2022, a Galaxy-backed digital wallet prioritizing security. Currently invite-only, Zeal plans an official Q1 launch, aiming to stand out with advanced security measures and free USDC stablecoin transfers. Backed by investors like Galaxy and Framework, Zeal, with a team from Revolut, Coinbase, and Spotify, emerges as a noteworthy player in the evolving digital wallet landscape.
JixuU.S. Justice Department Seizes $9M in USDT Linked to Elaborate 'Pig Butchering' Scam
In a groundbreaking operation, the U.S. Justice Department has successfully seized $9 million in USDT, Tether’s cryptocurrency pegged to the U.S. dollar. This move exposes a convoluted web of deceit, involving over 70 unsuspecting victims ensnared in what's known as "pig butchering" scams.
AaronJapanese Exchange Expands Crypto Lending to XRP and SHIB
BitTrade, a Japanese crypto exchange, broadens its lending program to include XRP and SHIB, offering users a 2% annual yield over 90 days, amid market buzz surrounding Shiba Inu's burn rate surge and XRP's projected "mega pump."
JasperCoinGecko Expands Reach with Zash Acquisition
The crypto data platform plans to integrate new endpoints into its crypto data API by Q2 2024, covering various aspects of NFT data across major platforms.
DavinGenesis Seeks $689M in Legal Tussle with Gemini for Recovery
Genesis pursues $689 million recovery in a legal clash with Gemini post-FTX collapse, sparking lawsuits and disputes over fund recovery and collateral use.
Hui XinKyberSwap Faces $48M Security Breach
KyberSwap, a decentralised exchange spanning 15 blockchains, grapples with a significant $48 million security breach, prompting urgent user fund withdrawals and raising concerns about the vulnerability of liquidity providers across various DeFi platforms.
JasperMt. Gox Creditors Will Soon Receive Repayments, End In Sight
These long-awaited reimbursements will be financed through the sale of Mt. Gox's remaining assets, including 142,000 BTC, 143,000 BCH, and 69 billion yen (about $625 million)
DavinNorth Korean Crypto Hackers Target South Korean Officials in Elaborate Phishing Scheme
North Korean hackers, posing as journalists, escalate cyber threats by targeting nearly 1,500 South Korean officials in a sophisticated phishing campaign, compromising crypto accounts, and deploying mining malware, prompting urgent calls for enhanced cybersecurity measures.
JasperKuCoin Launches Visa Crypto Debit Card, KuCard, to Bridge Crypto and Traditional Banking
KuCoin, a leading cryptocurrency exchange, introduces KuCard, a Visa-powered crypto debit card that transforms digital assets into everyday spending power.
Joy