Hut 8 CEO Asher Genout shared his thoughts in an interview with Bloomberg about the concept behind the new US-based Bitcoin project.
Speaking on Bloomberg TV with Eric Trump, Genout noted that Hut 8 is not starting from scratch with members of the Trump family. Instead, the project is being launched as a “massive mining operation from day one.”
Hut 8 will exchange its mining rigs for 80% of American Bitcoin shares, allowing the company to significantly accelerate its launch by having the necessary infrastructure and operational capabilities to mine Bitcoin (BTC).
“We will contribute our setup to this business in exchange for 80% of the shares,” said Genout. “Then we will build, scale and grow this business together, rather than starting from scratch,” he added.
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Bitcoin mining is interesting for investors
He also noted that the company intends to enter the stock market in the future, positioning itself as a “pure” bitcoin miner capable of mining BTC at a lower price than purchasing it directly.
American Bitcoin will focus on accumulating Bitcoin in its portfolio, building a strategic reserve, and seeking to establish a significant position in the industry.
“Our goal is to provide shareholders with a mining company that can produce bitcoins cheaper than simply buying them,” he said. “In this way, we will continue to increase the strategic reserve and strive to become one of the largest miners and holders of bitcoins.”
Genout described the partnership with Eric Trump and American Data Centers as a synergy between cryptocurrencies and the U.S. energy infrastructure. He said, “We believe in Bitcoin, we believe in America” and the existing energy base.
He also pointed to significant support for broader Bitcoin adoption at both the state and federal levels. He noted that many state governments are exploring their own strategic reserves, but his company will “lead by example.”
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Source: cryptonews.net
