Hut 8 Expands Bitcoin Mining with New Subsidiary Led By Trump Family

Highlights:

• Hut 8 has launched American Bitcoin with the Trump family backing to expand Bitcoin mining.
• Eric Trump will be Chief Strategy Officer while Hut 8 remains the exclusive infrastructure and operations partner.
• The Trump family is increasing crypto investments through projects in major companies.

Hut 8 has introduced American Bitcoin, a new subsidiary focused on large-scale Bitcoin mining and strategic Bitcoin reserve development. The move follows Hut 8’s decision to contribute most of its ASIC miners in exchange for an 80% stake in American Data Centers, a company backed by Eric Trump and Donald Trump Jr. The company has now been renamed American Bitcoin.

🚨JUST IN: HUT 8 LAUNCHES AMERICAN BITCOIN MINING FIRM BACKED BY ERIC TRUMP AND DONALD TRUMP JR

— BSCN Headlines (@BSCNheadlines) March 31, 2025

With this change, Hut 8’s mining operations will now run under the American Bitcoin brand while still being part of its Compute segment. The company will also serve as the exclusive infrastructure and operations partner for American Bitcoin under long-term agreements.

American Bitcoin aims to be one of the world’s largest and most efficient Bitcoin miners. Eric Trump, who will step up as Chief Strategy Officer, said that the combination of Hut 8’s expertise with a shared vision for the future of Bitcoin will bring about opportunities for significant growth. Donald Trump Jr. stated that while buying Bitcoin is important, mining it with strong economic advantages presents an even bigger opportunity.

New Leadership and Growth Plans

The leadership team of American Bitcoin includes several key figures: Mike Ho will serve as executive chairman, while Matt Prusak will lead as CEO. In his position as Chief Strategy Officer, Eric Trump will be instrumental in shaping the strategic direction of the company. Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim are members of the board of directors.

Within the new framework, American Bitcoin will function as a standalone business but will rely on Hut 8 for infrastructure and managed services. The separation will permit both companies to focus on their core strengths. American Bitcoin will focus on mining operations and the building of Bitcoin reserves, while Hut 8 will be responsible for managing colocation and ASIC services.

Hut 8 CEO Asher Genoot said the move of spinning off the mining business into a separate entity offers each segment the ability to have its own financial structure. Adopting this strategy will enable Hut 8 to place its focus on infrastructure while American Bitcoin leads mining expansion. The goal is to achieve over 50 exahashes per second of hash rate and fleet efficiency below 15 joules per terahash in the mining operations.

Trump Family Expands Its Crypto Ventures

The launch of the American Bitcoin comes at a time when the Trump family is getting more involved in the digital assets sector. Donald Trump Jr. and Eric Trump have since gained exposure to cryptocurrencies over time, making a number of investments and adopting advisory roles.

Dominari Holdings, a company where both Trump sons have influence, recently allocated $2 million to BlackRock’s iShares Bitcoin Trust. Eric Trump has also joined Metaplanet, which is Japan’s largest corporate Bitcoin holder, as a strategic advisor. His involvement in the company signals growing institutional interest in Bitcoin as a long-term investment.

The World Liberty Financial project, backed by Trump, has made $550 million through token sales. In addition, Donald Trump continues advocating for policies favorable to digital assets. His administration has supported the adoption of a strategic Bitcoin reserve.