Hut 8 Partners with Trump Sons to Launch World’s Largest Bitcoin Mining Venture
Donald Trump Jr. and Eric Trump are backing American Bitcoin, an ambitious project in collaboration with digital asset firm Hut 8, aiming to build the world’s largest and most efficient Bitcoin mining operation while establishing a strategic Bitcoin reserve.
With the support of Trump’s sons, the President’s family is further expanding its footprint in the cryptocurrency sector. On March 31, Hut 8 announced it is acquiring a majority stake in American Bitcoin, previously known as American Data Center. The move is intended to transform American Bitcoin into a leading force in Bitcoin mining and infrastructure, combining operational scale with strategic Bitcoin accumulation.
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American Bitcoin was founded by a group of investors, including Donald Trump Jr. and Eric Trump, who have long championed Bitcoin and digital assets. As part of the transaction, American Bitcoin will assume ownership of Hut 8’s Bitcoin mining hardware and continue mining operations under the American Bitcoin brand.
A Strategic Shift in Bitcoin Mining
Donald Trump Jr. emphasized that the venture aims to mine Bitcoin under favorable economic conditions, creating new opportunities for investors. “Mining it on favorable economics opens an even bigger opportunity,” Trump Jr. noted, adding that the platform is designed to offer investors direct exposure to Bitcoin’s growth while focusing on long-term accumulation and operational efficiency.
Hut 8 CEO Asher Genoot described the launch of American Bitcoin as a “pivotal evolution” in the company’s strategy. He stated that separating the mining business into a dedicated entity will allow Hut 8 to streamline operations, raise capital more effectively, and focus on segments aligned with their respective costs of capital. The shift enables American Bitcoin to concentrate exclusively on Bitcoin mining, production, and scaling efforts.
Also read: Understanding the Basics of Bitcoin Solo Mining
Trump Family Deepens Crypto Involvement
This venture is part of the Trump family’s growing engagement in the cryptocurrency market. The US President has actively supported pro-crypto policies, while family members and affiliated companies have expanded their presence across various digital asset initiatives.
Earlier this year, President Trump pardoned the co-founders of crypto exchange BitMEX, who previously pleaded guilty to federal money laundering charges. The US Treasury also recently removed decentralized crypto mixer Tornado Cash from its sanctions list, signaling a broader shift toward favorable crypto regulation.
On the commercial side, Trump launched the Official Trump meme coin and his Trump Technology Group partnered with Crypto.com to roll out a new suite of crypto exchange-traded funds (ETFs). Additionally, the President’s family has introduced the World Liberty Financial (WLFI) decentralized finance protocol and a new stablecoin, USD1.
Also read: World Liberty Financial Raises $590M—Will It Disrupt Traditional Finance?
Bitcoin Mining Industry Sees Robust Growth
The timing of American Bitcoin’s bold expansion aligns with broader industry trends. Bitcoin mining revenue surged to $3.6 billion in Q1 2025 following the latest Bitcoin halving event. Despite increasing mining difficulty, miners’ daily revenue per unit of hash power remained steady at approximately $48 per petahash per second.
Hut 8’s own growth has mirrored the industry’s momentum. By the end of 2024, the firm acquired an additional 990 BTC for $100 million, pushing its total Bitcoin holdings above $1 billion. This strategic accumulation underscores Hut 8’s commitment to strengthening its market position and expanding its Bitcoin reserve.
