Trump family enters Bitcoin mining industry with American Bitcoin 20% stake in Hut 8

Hut 8 has partnered with Eric Trump and Donald Trump Jr. to launch American Bitcoin, a new entity focused exclusively on industrial-scale Bitcoin mining and strategic reserve development.

The initiative is structured as a majority-owned subsidiary of Hut 8 and formalizes the Trump family’s continued investment in digital assets through equity, operational roles, and infrastructure alignment.

Per a press release issued on March 31, the venture emerged following Hut 8’s transfer of a substantial portion of its ASIC mining assets to American Data Centers Inc., which was subsequently renamed American Bitcoin.

Hut 8 now holds an 80% stake in the company, with the remaining interest controlled by a private investor consortium including Eric and Donald Trump Jr. The two sons of the sitting president are now directly involved in the leadership of the new mining company, with Eric Trump serving as Chief Strategy Officer.

Strategic Structure and Operational Alignment

Under the new framework, American Bitcoin’s operations will be managed through long-term commercial agreements with Hut 8, which will continue to act as the exclusive infrastructure and managed services partner.

The company will consolidate American Bitcoin’s results within its financial reporting while moving its mining operations under a distinct brand identity. This bifurcation aligns Hut 8’s business segments with their respective capital cost profiles, according to CEO Asher Genoot, who described the move as part of a broader strategy to optimize capital deployment and segment performance.

The mining operations target a hash rate exceeding 50 exahashes per second with an average fleet efficiency below 15 joules per terahash.

In parallel, the firm will focus on building a strategic Bitcoin reserve, reinforcing a broader trend of corporates adopting long-term Bitcoin holdings as part of treasury and risk diversification strategies.

American Bitcoin will initially be governed by a four-member board that includes Genoot, Mike Ho (Executive Chairman), and technology investors Justin Mateen and Michael Broukhim. Matt Prusak will lead as CEO.

Trump Family’s Broader Digital Asset Push

The launch of American Bitcoin follows a broader strategic alignment between the Trump family and the digital asset sector. As CryptoSlate previously reported, Donald Trump Jr. and Eric Trump have steadily expanded their crypto exposure through advisory roles, token investments, ETFs, and strategic equity holdings.

Earlier this month, Dominari Holdings, a firm with advisory board participation from both Trump sons, allocated $2 million to BlackRock’s iShares Bitcoin Trust. In addition, Eric Trump was appointed a strategic advisor to Metaplanet, Japan’s largest corporate Bitcoin holder. He has also disclosed direct exposure to a basket of major digital assets, including Bitcoin, Ethereum, Solana, and Sui.

The Trump family’s increasing footprint in Bitcoin infrastructure aligns with Donald Trump Sr.’s political messaging in support of digital assets.

Since his return to office, President Trump has signed executive orders backing a Strategic Bitcoin Reserve and exempting memecoins from securities classification, measures widely interpreted as favorable to the industry.

The Trump-backed World Liberty Financial project has raised $590 million in token sales, with the family entitled to a large portion of the venture’s projected revenue streams.

Implications for the Bitcoin Mining Landscape

American Bitcoin’s stated ambition to become the world’s largest and most efficient pure-play miner introduces a new layer of competitive pressure to a sector already characterized by increasing institutionalization.

The platform’s intended scale and reserve-building focus echo elements of corporate strategies adopted by firms like Marathon Digital Holdings and MicroStrategy, though with a distinct governance model shaped by political and brand capital.

Hut 8’s strategic use of American Bitcoin as a vehicle to attract external capital for hash rate expansion while preserving operational and infrastructure oversight reflects a modular approach to mining platform development. The commercial structure may also insulate Hut 8’s balance sheet from volatility tied to Bitcoin production while allowing investors targeted exposure to mining yields.

A conference call discussing the transaction in detail will be held on April 1.

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