Hut 8 Corp. has launched American Bitcoin Corp., a new subsidiary aimed at large-scale Bitcoin mining and the development of strategic Bitcoin reserves.
This significant move follows Hut 8’s decision to transfer most of its ASIC miners in exchange for an 80% stake in American Data Centers, Inc., which has now been rebranded as American Bitcoin. According to the information, the company is backed by Eric Trump and Donald Trump Jr., marking a new chapter in the Bitcoin mining sector.
American Bitcoin aspires to become the world’s largest and most efficient Bitcoin miner. Eric Trump, who takes on the role of Chief Strategy Officer, described the partnership as a pivotal step forward, combining Hut 8’s operational expertise with a shared vision for Bitcoin’s future.
Donald Trump Jr. emphasized the long-term value of mining Bitcoin, saying, “Simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity.”
Separate Entity Structure to Drive Growth
By spinning off the mining operations into a new entity, Hut 8 CEO Asher Genoot explained that each segment can operate with its own financial structure, driving growth and making capital allocation more efficient. Hut 8 will continue to focus on infrastructure, while American Bitcoin will concentrate on mining operations and building up its Bitcoin reserves.
The leadership team at American Bitcoin includes Mike Ho (Executive Chairman), Matt Prusak (CEO), and Eric Trump (Chief Strategy Officer). The Board of Directors will also feature Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim. Hut 8 will provide exclusive ASIC colocation and management services for American Bitcoin as part of a shared services agreement.
With this change, Hut 8’s mining operations will now operate under the American Bitcoin brand while staying within Hut 8’s Compute segment. Hut 8 will continue to serve as the exclusive infrastructure and operations partner for American Bitcoin, entering long-term agreements designed to generate stable and sustainable revenue for both entities.
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Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/eric-and-donald-trump-jr-lead-american-bitcoin-mining-launch/