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.
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.
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.”
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.
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?
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