Hut 8 Launches American Bitcoin with Eric Trump, Donald Trump Jr. to Grow Mining Operations

MT Newswires Live03-31

Hut 8 (HUT) said Monday it created a new Bitcoin-focused unit, American Bitcoin, by transferring most of its mining machines to a joint venture backed by Eric Trump and Donald Trump Jr, among others.

The venture was formed by renaming and relaunching American Data Centers, in which Hut 8 now holds an 80% interest following the asset transfer, the company said.

American Bitcoin will handle all mining activity previously under Hut 8's Compute segment, with Hut 8 continuing to provide infrastructure and operational services under long-term agreements, Hut 8 said.

The company also said its unit is targeting more than 50 EH/s capacity with improved energy efficiency and plans for a future public listing.

American Bitcoin's executive team includes Eric Trump as chief strategy officer, Mike Ho as executive chairman, and Matt Prusak as CEO, Hut 8 added.

Shares of the company were up 9.4% in recent Monday premarket activity.

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