Hut 8 Partners with Company Backed by Eric Trump and Donald Trump Jr.
Today, Hut 8, one of the world’s leading Bitcoin mining companies by market capitalization, announced a major partnership with Eric Trump. Together, they unveiled American Bitcoin, a majority-owned subsidiary of Hut 8 focused exclusively on industrial-scale BTC mining and reserve development.
According to a press release, the venture serves as a merger with American Data Centers, a company founded by Eric along with his older brother, Donald Trump Jr., and other investors. It’s worth noting that the Trump-backed company holds a 20% stake in the new venture.
American Bitcoin aims to position itself as “the world’s largest and most efficient pure-play Bitcoin miner.” The company also aims to build a supply of the world’s largest crypto asset by market capitalization. The company leverages Hut 8’s Bitcoin mining capabilities and the Trumps’ market expertise, as well as their strategic goal of advancing the mechanisms of the financial system through the adoption of digital currencies.
“It is a great honor to partner with Hut 8, a recognized leader in Bitcoin, as we launch American Bitcoin,” Eric stated in a press release. “By combining Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance, we are positioned to strengthen our foundation and drive significant future growth.”
“From the beginning, we have been committed to Bitcoin, both personally and through our companies,” Donald Jr. explained. “But simply buying Bitcoin is only half the battle.”
“Mining it under favorable economic conditions opens up an even greater opportunity,” added the older Trump brother. “We’re excited to bring investors into this equation through a platform designed to execute on this thesis and provide real, tangible participation in Bitcoin’s growth.”
Trump Family Conflicts of Interest
The launch of the new Trump-backed Bitcoin mining company adds to growing criticism over President Trump‘s conflict of interest allegations. It all began with the elder Trump’s endorsement of Bitcoin and cryptocurrencies during last year’s presidential campaign.
Trump escalated the controversy as he and his family became more involved in crypto-related ventures, while his administration’s policies shifted favorably toward digital currencies. Now there’s another issue that will indeed cause even more discord, even among members of the crypto community.
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