Canadian Bitcoin mining company Hut 8 has announced a partnership with Eric Trump and Donald Trump Jr. to launch American Bitcoin, a new entity focused on industrial-scale Bitcoin mining and strategic reserve development. This venture formalizes the Trump family’s continued investment in digital assets through equity, operational roles, and infrastructure alignment.
The announcement came after Hut 8 transferred a significant portion of its ASIC mining assets to American Data Centers Inc., which was later renamed American Bitcoin. Hut 8 now holds an 80% stake in the company, with the remaining interest controlled by a private investor consortium that includes Eric and Donald Trump Jr. Eric Trump has taken on the role of Chief Strategy Officer for the new mining company.
Under the new framework, American Bitcoin’s operations will be managed through long-term commercial agreements with Hut 8, which will continue to serve as the exclusive infrastructure and managed services partner. The company will consolidate American Bitcoin’s results within its financial reporting while operating its mining operations under a distinct brand identity.
American Bitcoin aims to achieve a hash rate exceeding 50 exahashes per second with an average fleet efficiency below 15 joules per terahash. In addition to mining operations, the company will focus on building a strategic Bitcoin reserve, aligning with the trend of corporates adopting long-term Bitcoin holdings as part of treasury and risk diversification strategies.
The company will initially be governed by a four-member board, including CEO Matt Prusak, Executive Chairman Mike Ho, and technology investors Justin Mateen and Michael Broukhim. This new venture is part of a broader strategic alignment between the Trump family and the digital asset sector, with the sons of President Donald Trump expanding their crypto exposure through various investments and advisory roles.
American Bitcoin’s ambition to become the world’s largest and most efficient pure-play miner introduces a new layer of competitive pressure to the Bitcoin mining landscape. The platform’s scale and focus on building a strategic reserve align with corporate strategies adopted by other firms, but with a governance model shaped by political and brand capital.
Hut 8’s strategic use of American Bitcoin as a means to attract external capital for hash rate expansion while maintaining oversight of operations reflects a modular approach to mining platform development. The commercial structure may also help insulate Hut 8’s balance sheet from volatility tied to Bitcoin production while providing investors with targeted exposure to mining yields.
