According to a press release on March 31, 2025, by Hut 8, and following reports from Bloomberg, CNBC, and The New York Times, revealed the successful partnership deal between Trump’s son and HUT 8. Eric and Donald Trump Jr have officially entered into the business of Bitcoin mining with a newly launched company called American Bitcoin Corp.
Hut 8, the company behind bitcoin mining, has recently joined forces with the U.S. President’s sons and started a new company called American Bitcoin. This initiative gave rise to a publicly traded crypto mining firm. The company will be focusing on large-scale Bitcoin mining and has multiple plans to create a big Bitcoin Reserve and supposedly become a public company.
This action indicates their growing involvement in Cryptocurrency. This is happening when Bitcoin mining is making money and has controversies, particularly in the U.S., where there are big challenges like unclear regulations and higher energy costs.
Structure of the Partnership
In this deal, Hut 8 received 80% of the ownership in American Bitcoin. Where as, Eric and Donald Trump Jr. received the remaining 20% ownership. The agreement further briefs that Hut 8 will be providing a portion of its ASIC mining machines to the company.
Eric Trump, the younger son, is appointed as the company’s Chief Strategy Officer ( CSO) and the elder son will actively look at the company’s strategic direction, promoting the company ahead. The Hut 8 CEO points out that this partnership will help both companies and will increase efficiency, as well as help to expand their operations more effectively.
Donald Trump Jr. expressed his belief in the project, saying that we have always supported Bitcoin, both personally as well as through our businesses. But purchasing Bitcoin is not enough. Bigger opportunities can be offered if Bitcoins are lined with good economic offers.
This statement shows the shift of U.S. President’s sons from just investing in Bitcoin to actively taking part in its mining, a move that might strengthen their position in the growing digital asset industry.
Market Reaction and Industry Impact
After the announcement of American Bitcoin, the stock of HUT 8 rose by 6.4%, which shows that investors are confident. Though the market is still volatile, the stock is down by 42.8% this year. At the same time, Bitcoin prices have become unstable and were traded at $82,600 on April 1, which is considered down from $85,000 on March 29.
The new ventures show a significant change in the attitude toward digital assets. A few years back, U.S. President even called Bitcoin a ‘scam’, however, his attitude towards crypto has changed now, and he is currently planning to make the U.S. a global leader in crypto innovation.
This new venture is created on other Trump-supported crypto projects, like World Liberty Financial, which is a Cryptocurrency company launched during his 2024 campaign. Besides, US president and his wife both have introduced their own Memecoins, showing their increased interest in digital currencies.
Conclusion
The US president’s family is making a strategic move to become a major player in Bitcoin mining with American Bitcoin. The partnership with Hut 8 will provide them access to a strong mining infrastructure, which would allow them to produce Bitcoin on a large scale. Their plan to make a Bitcoin Reserve and possibly go public shows that they are looking at Cryptocurrency as an important part of their financial future.
The crypto industry will be paying close attention, as Eric is getting ready to share his vision for American Bitcoin in a livestream on April 2. It is still uncertain whether this venture will make the US president’s family a major player in the crypto industry or if it will face regulatory challenges.
FAQs
1. Who is involved in this partnership?
Eric, Donald Trump Jr., and Hut 8 are involved in the partnership.
2. How much share does HUT 8 own in American Bitcoin?
Hut 8 owns 80% of the company.
3. How many mining machines will Hut 8 provide?
It will provide 61,000 mining machines
4. What role does Eric have in American Bitcoin?
Eric Trump is appointed as a Chief Strategy Officer (CSO).
5. What happened to Hut 8 stock after the announcement?
Hut 8’s stock rose by 6.4%, but it’s still down by 42.8% this year.
Glossary
American Bitcoin Corp- A New Bitcoin mining company projected by Trump’s Son and Hut 8.
Bitcoin Mining- A process to earn Bitcoin by solving problems
Hut 8- A company that mines Bitcoin
Mining Machines- Superior computers used for Bitcoin mining.
Volatility- Price movement
Sources
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