Members of former U.S. President Donald Trump’s family are backing a new venture aiming to become the world’s largest Bitcoin mining company.
Launching American Bitcoin
Hut 8, a digital asset and infrastructure firm, announced in March 2025 that it has acquired a majority stake in American Bitcoin. Formerly known as American Data Center, the company was founded by investors, including Trump's sons, Donald Trump Jr. and Eric Trump.
Company's Strategy and Goals
As part of the deal, American Bitcoin will acquire Hut 8’s Bitcoin mining hardware. Donald Trump Jr. stated that the entrepreneurs behind American Data Centers personally believe in Bitcoin through their business. The new venture aims to become the largest, most efficient pure-play Bitcoin miner, building a robust strategic Bitcoin reserve.
A Turning Point for Hut 8
Hut 9 CEO Asher Genoot recognized the launch of American Bitcoin as a significant evolution in the firm’s strategy. He stated that by separating the mining business from the rest of the corporate activities and allowing it to raise its own capital, each segment of the business aligns with its respective cost of capital.
Hut 8 now boasts a clearer strategy and structure, making it more appealing to investors interested in the Bitcoin mining industry.
