Trump Family Enters Bitcoin Market With New Project American Bitcoin
Eric and Donald Trump Jr. have teamed up with Hut 8 to create a major US-based Bitcoin mining company.
James Van Straten, AI Boost | Edited by Parikshit Mishra Updated March 31, 2025 17:09 UTC Published March 31, 2025 10:31 UTC
Key facts:
- American Bitcoin will operate 61,000 mining rigs, with Eric Trump serving as chief strategy officer, with plans to create a “bitcoin reserve.”
- Hut 8 will own 80% of American Bitcoin, providing mining hardware and hosting operations in its 11 data centers across the United States to ensure efficient and large-scale production of bitcoin.
- The project strengthens the Trump family's crypto presence alongside initiatives like World Liberty Financial, meme coins, and a future stablecoin.
According to a Hut 8 press release, the Trump family is strengthening its position in the cryptocurrency space by making a significant move into Bitcoin (BTC) mining.
Eric Trump and Donald Trump Jr. are merging their company American Data Centers with a new mining project, American Bitcoin, by acquiring a 20% stake. The remaining 80% will be owned by Hut 8, a publicly traded crypto infrastructure company that is deploying nearly 61,000 mining machines to the new organization. The deal does not include any cash, according to a press release.
Eric Trump, who will serve as chief strategy officer of American Bitcoin, described the initiative as in line with the family’s focus on hard assets, drawing an analogy between digital currencies and real estate. He highlighted plans to create a “bitcoin reserve” and the possibility of the company going public.
While American Bitcoin operates independently of the Trump Organization, it may partner with World Liberty Financial, a DeFi project created by the Trump brothers, in the future.
Hut 8 will mine in its 11 data centers in the United States. CEO Asher Genout said low energy costs and scalable infrastructure will give American Bitcoin a competitive advantage.
The board of directors will include Tinder co-founder Justin Mateen and FabFitFun co-founder Michael Bruckhim. Despite criticism of the environmental impact of Bitcoin mining, Eric Trump believes that lower energy costs in the United States will help American miners beat out international rivals.
Disclaimer: Portions of this article were generated by AI tools and reviewed by our editorial team to ensure accuracy and adhere to our standards. For more information, see CoinDesk's full AI policy.
UPDATE (March 31, 12:50 UTC): Story update with Hut 8 confirmation.
