The Trump family’s crypto ambitions are expanding into industrial-scale Bitcoin mining with the creation of a new joint venture named American Bitcoin. The operation is being formed through a merger between Trump family-backed American Data Centers and crypto infrastructure firm Hut 8, a major publicly traded crypto mining company.
Under the terms of the agreement, Hut 8 will hold an 80% stake in the venture, while Eric Trump and Donald Trump Jr. retain the remaining 20%. The deal does not involve an exchange of cash; instead, Hut 8 is contributing approximately 61,000 mining machines to support the initiative. These machines will be deployed across Hut 8’s 11 data centers in the United States, optimized for low-cost energy access and large-scale mining capacity.
Eric Trump is set to take on the role of Chief Strategy Officer for the company, which aims to create a dedicated Bitcoin reserve and potentially explore a public offering in the future. The initiative, according to Trump, aligns with the family’s long-standing interest in hard assets and wealth preservation.
Strategic Expansion and Infrastructure Set to Drive American Bitcoin’s Growth
American Bitcoin is positioning itself as a major player in the competitive Bitcoin mining sector, with a focus on scaling operations across low-cost infrastructure in the United States. The venture plans to accumulate a substantial Bitcoin reserve as part of its long-term strategy to secure market presence and build value.
Eric Trump, who will serve as Chief Strategy Officer, is expected to play a central role in guiding the company’s strategic direction. Although the mining venture operates independently of the Trump Organization, it may collaborate in the future with World Liberty Financial—the decentralized finance platform launched previously by the Trump brothers.
“It is a great honor to partner with Hut 8, a recognized leader in the Bitcoin space, as we launch American Bitcoin,” said Eric Trump.
“By combining Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance, we are poised to strengthen our foundation and drive significant future growth.”
Hut 8, which supplies the mining hardware, will oversee operations at all 11 of its U.S. data centers. According to the CEO, Asher Genoot, access to affordable energy and a scalable infrastructure model will serve as key competitive advantages for the new enterprise.
The board of directors features notable tech entrepreneurs, including Tinder co-founder Justin Mateen and FabFitFun co-founder Michael Broukhim. While Bitcoin mining continues to draw criticism for its environmental impact, Eric Trump has stated that the availability of cheaper energy in the U.S. will allow American Bitcoin to compete globally and operate more efficiently than many overseas competitors.
The Trump-backed venture also comes at a moment of significant expansion for its partner company, Hut 8. In late 2024, the firm disclosed that it had surpassed $1 billion in Bitcoin holdings after acquiring 990 BTC for $100 million. At that time, its total reserves stood at 10,096 BTC, acquired at an average cost of $24,484 per coin—placing the company among the top corporate holders of mined Bitcoin globally.
Trump’s Crypto Footprint Expands as Policy and Investment Align
The launch of American Bitcoin represents a continuation of the Trump family’s broader push into the cryptocurrency space. In addition to this new mining initiative, Eric and Donald Trump Jr. have previously introduced a decentralized finance platform, World Liberty Financial, and a stablecoin project known as USD1. The token is reportedly backed by U.S. Treasuries and other liquid reserves, indicating an interest in blending traditional finance mechanisms with blockchain-based innovation.
These business moves have been accompanied by a parallel effort in policy circles. Former President Donald Trump has stepped up his public support for digital assets, advocating for regulatory environments more favorable to crypto innovation. His latest actions include pardoning three former BitMEX executives who had been convicted on federal anti-money laundering charges—an act viewed by some as signaling a more lenient stance on past regulatory enforcement in the sector.
Recent decisions by key U.S. agencies also reflect a shift in sentiment. The U.S. Treasury has removed Tornado Cash, a decentralized crypto mixer, from its sanctions list—effectively nullifying several pending legal actions. Meanwhile, the Securities and Exchange Commission (SEC) recently stated that memecoins do not qualify as securities under existing frameworks, easing concerns for developers and traders in the meme token space.
Quick Facts:
- Eric and Donald Trump Jr. have partnered with Hut 8 to form ‘American Bitcoin,’ a large-scale Bitcoin mining venture.
- Hut 8 contributes approximately 61,000 mining machines and retains an 80% stake in the company.
- Eric Trump assumes the role of Chief Strategy Officer in the new enterprise.
- The Trump family’s involvement in cryptocurrency extends to previous ventures like World Liberty Financial and the USD1 stablecoin.
