{"id":22636,"date":"2025-04-02T11:51:35","date_gmt":"2025-04-02T08:51:35","guid":{"rendered":"https:\/\/forklog.com\/en\/trump-linked-mining-firm-to-go-public\/"},"modified":"2025-04-02T11:51:35","modified_gmt":"2025-04-02T08:51:35","slug":"trump-linked-mining-firm-to-go-public","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/trump-linked-mining-firm-to-go-public\/","title":{"rendered":"Trump-Linked Mining Firm to Go Public"},"content":{"rendered":"

The mining company American Bitcoin plans to go public and attract additional private capital before its stock market debut, according to Bloomberg<\/a>.<\/p>\n

On March 31, Hut 8 announced<\/a> the creation of a subsidiary focused on bitcoin mining. Previously, the firm acquired an 80% stake in American Data Centers, in exchange for nearly its entire fleet of miners. This company was backed by a group of investors led by Eric Trump and Donald Trump Jr. As part of the deal, the enterprise was relaunched as American Bitcoin.<\/p>\n

Previously based in Canada, Hut 8 is listed on the Toronto Stock Exchange and Nasdaq. In 2023, the firm relocated to the United States following its acquisition of US Bitcoin.<\/p>\n

Hut 8 has now decided to separate its mining business, transferring it to American Bitcoin.<\/p>\n

\n

“In the long term, you can think of this as two sister companies with publicly traded shares,” said Hut 8 CEO Asher Genut.<\/p>\n<\/blockquote>\n

According to him, one will focus on “energy and data center infrastructure,” while the other will concentrate on “bitcoin, ASIC, and crypto reserves.” Together, they will form a vertically integrated structure, Genut added.<\/p>\n

Eric Trump has taken the role of Chief Strategy Officer at American Bitcoin.<\/p>\n

\n

“We are going to become the greatest bitcoin mining company in the world, and we’re doing it right here in America,” he stated.<\/p>\n<\/blockquote>\n

The entrepreneur assured that he is not working with the White House and “practically” does not communicate with his father.<\/p>\n

In September 2024, the elder Trump’s sons launched<\/a> the DeFi platform World Liberty Financial (WLF). Eric Trump noted that this occurred before the presidential elections in November.<\/p>\n

During token sales, the project raised $590 million<\/a>. Most of the funds were secured after Trump’s election.<\/p>\n

As reported by Reuters, in January 2025, the family of the sitting president consolidated control<\/a> over WLF.<\/p>\n","protected":false},"excerpt":{"rendered":"

The mining company American Bitcoin plans to go public and attract additional private capital before its stock market debut, according to Bloomberg. On March 31, Hut 8 announced the creation of a subsidiary focused on bitcoin mining. Previously, the firm acquired an 80% stake in American Data Centers, in exchange for nearly its entire fleet […]<\/p>\n","protected":false},"author":1,"featured_media":22635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1136,1211],"class_list":["post-22636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-hut-8","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=22636"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22636\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/22635"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=22636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=22636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=22636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}