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American Bitcoin: Trump Jr. and Eric Fuel New Bitcoin Venture with Hut 8

Key Takeaways

  • ​Donald Trump Jr. and Eric Trump are backing a new Bitcoin mining venture called American Bitcoin;
  • Hut 8 now owns most of American Bitcoin and has handed over its mining hardware to the company;
  • The mining unit will run under the American Bitcoin name, with goals to expand Bitcoin output and reserves.

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American Bitcoin: Trump Jr. and Eric Fuel New Bitcoin Venture with Hut 8

Donald Trump Jr. and Eric Trump are supporting a Bitcoin BTC $84,644.91 mining business through a company called American Bitcoin.

The project is tied to Hut 8, a company that runs digital asset infrastructure and mining operations.

On March 31, Hut 8 shared that it had taken a majority stake in American Bitcoin, which used to be known as American Data Center. The company will run the mining equipment that was previously owned by Hut 8.

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Donald Trump Jr. said the founders of American Data Center are invested in Bitcoin not just through business but personally as well. He added that strong market conditions create new chances for mining and that this project will give others the opportunity to take part in Bitcoin’s long-term potential.

Though the mining will continue to be managed by Hut 8’s technical team, it will operate under the American Bitcoin name. The new company’s goal is to grow into a leading mining firm focused solely on Bitcoin while also building a reserve of the digital asset.

Hut 8’s CEO, Asher Genoot, explained that this change is a key step in the company’s plan. By setting mining operations apart from the rest of the business, each side can handle its own costs and funding. Genoot said the decision allows Hut 8 to work with more stability and helps American Bitcoin focus on producing more Bitcoin and increasing its mining power.

On March 24, Trump Media announced a partnership with Crypto.com $2.33B , a cryptocurrency exchange. What is the goal of the collaboration? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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