- Hut 8 and Eric Trump launch American Bitcoin, aiming to lead in industrial-scale Bitcoin mining and reserves.
- American Bitcoin targets 50+ EH/s efficiency and plans to become a publicly listed pure-play Bitcoin miner.
- The Trump family’s deeper crypto involvement raises regulatory scrutiny amid plans for broader U.S. crypto oversight.
Bitcoin mining company Hut 8 Corp. and Eric Trump have announced the launch of a new joint venture called American Bitcoin. The new company will focus on industrial-scale Bitcoin mining and building a strategic reserve.
It will be a majority-owned subsidiary of Hut 8. This is part of a broader plan to consolidate and expand Bitcoin operations under a standalone brand.
Structure and Leadership
According to a March 31 press release, Hut 8 contributed most of its Application-Specific Integrated Circuit (ASIC) miners to American Data Centers, a company previously formed by Eric Trump and Donald Trump Jr. in partnership with Dominari Holdings.
In return, Hut 8 got 80% of the company. After the deal, American Data Centers was rebranded and relaunched as American Bitcoin. American Bitcoin will be the exclusive vehicle for Hut 8’s Bitcoin mining activities, previously reported under its Compute segment.
Although American Bitcoin will be a standalone brand, Hut 8 will consolidate its financials and manage day-to-day operations under long-term commercial agreements. These agreements include ASIC colocation and managed services, creating stable revenue streams for Hut 8’s Power and Digital Infrastructure segments. The initial leadership team is Mike Ho as Executive Chairman, Matt Prusak as CEO, and Eric Trump as Chief Strategy Officer.
The board of directors includes Asher Genoot, CEO of Hut 8, Mike Ho, Justin Mateen, and Michael Broukhim.
Goals: Efficiency, Scale, and Reserve Building
American Bitcoin aims to be the largest and most efficient pure-play Bitcoin miner. The company is targeting over 50 exahashes per second (EH/s) hashrate with under 15 joules per terahash (J/TH) average fleet efficiency.
Another key goal is to build a Strategic Bitcoin Reserve alongside its mining operations. Eric Trump said the partnership combines Hut 8’s infrastructure and operational experience with the Trump team’s focus on capital markets and decentralized finance.
Donald Trump Jr. added that mining Bitcoin under favorable conditions is a broader investment opportunity beyond just owning the asset. American Bitcoin is now a direct competitor to other major miners, including Marathon Digital, Riot Platforms, and CleanSpark.
Regulatory Context and Market Impact
The joint venture between Hut 8 and American Bitcoin is happening at a time when cryptocurrency is under the microscope from both lawmakers and regulators. The Trump administration is reportedly working on a new framework for regulating the crypto industry.
That has raised eyebrows—and questions about potential conflicts of interest—given the Trump family’s growing involvement in crypto ventures like memecoins, NFTs, a DeFi application, and Truth.Fi—a platform that lets you manage your crypto assets via Charles Schwab.
The market reaction to the announcement was mixed. Hut 8 stock rose 1.6% on Monday. That suggests investors are optimistic about the new structure. But Dominari Holdings—the firm tied to American Data Centers—saw a decline amid the broader market volatility. Industry analysts are still trying to wrap their heads around the complexity of the transaction.
Matthew Sigel, Van Eck’s head of digital asset research, questioned the logic behind trading 61,000 miners for an 80% stake in a subsidiary Hut 8 used to own entirely. Despite that, the companies are sticking to their guns: they say the restructuring brings each business segment in line with its cost of capital and creates operational focus.
American Bitcoin will continue to operate under Hut 8’s guidance. Eventually, it plans to become a publicly traded entity. Hut 8 has posted a presentation with more details on the transaction on its investor relations page. And there’s a conference call scheduled for April 1, at 8:30 a.m. ET.
