Hut 8 Partners with Eric Trump to Launch American Bitcoin

Hut 8 announced the creation of a subsidiary, American Bitcoin, focusing exclusively on Bitcoin mining and developing a cryptocurrency reserve.

Previously, Hut 8 acquired a controlling stake in American Data Centers, backed by a group of investors led by Eric Trump and Donald Trump Jr., in exchange for a fleet of mining rigs. As part of the deal, the firm was relaunched as American Bitcoin.

Future Bitcoin mining operations will be conducted under the new brand, with Hut 8 serving as the exclusive infrastructure partner.

“The deal combines Hut 8’s mining expertise, cost-effective infrastructure development capabilities, and disciplined resource allocation with Eric Trump’s commercial acumen, capital markets experience, and commitment to DeFi system development,” the press release stated.

According to Hut 8 CEO Asher Genuat, the transformation separates the company’s mining business from other areas such as power generation and high-performance computing data centers.

“It steers the company towards more predictable, funded segments with accessible capital costs and positions American Bitcoin as a mining platform dedicated solely to hash rate growth, Bitcoin production, and operational leverage,” Genuat emphasized.

Back in September 2024, Hut 8 began leasing GPU capacity to AI companies as part of its GPU-as-a-service offering.