Mining giant American Bitcoin Corp. announced plans to go public with Hut 8 and private investors, including US President Donald Trump's sons.
American Bitcoin and Hut 8 Partnership
The launch of the Bitcoin mining venture occurred after Hut 8, one of the largest public-listed crypto-mining companies, expressed interest in 'American Data Centers Inc.', a company formed by a group of investors including the sons of the state head.
Interview with Asher Genoot
In an interview with Bloomberg TV on Tuesday, Asher Genoot said: 'So you can see this in the long term as two sister publicly traded companies. One-half is energy and infrastructure data centers. While the other is Bitcoin, AISCs, and reserves.'
Industry Competition and Future Plans
The Bitcoin mining industry has witnessed a sharp decline post-halving in 2024. Increasing competition from new miners has made the market volatile. However, public mining companies have benefited from rising Bitcoin prices. Eric Trump stated: 'We are going to become the greatest Bitcoin mining company on earth and we are doing it here in America.'
American Bitcoin and Hut 8 aim to create an integrated company with strong economics supported by private investors.
