Trump sons launch Bitcoin mining venture with Hut 8, expanding family’s crypto footprint

March 31, 2025 10:48 AM PDT | By Invezz

Trump sons launch Bitcoin mining venture with Hut 8, expanding family’s crypto footprint — Image source: Invezz

Hut 8 to control majority stake

Under the terms of the deal, Hut 8 will own 80% of the new company, while the remaining 20% will be held by American Data Centers Inc., an investment entity that includes Eric and Donald Trump Jr.

The announcement listed Eric Trump as a co-founder and the chief strategy officer of the new firm.

Hut 8 will operate American Bitcoin’s mining facilities across its 11 data centers in the United States.

CEO Asher Genoot highlighted the advantages of US-based operations, citing lower energy costs and scalable infrastructure as key factors in maintaining a competitive edge.

Despite concerns over Bitcoin mining’s environmental footprint, Eric Trump argued that American miners would outperform global competitors due to the lower energy costs in the US.

Trump family’s deepening crypto ties

The Bitcoin mining initiative is the Trump family’s third major cryptocurrency venture in the past year.

During the 2024 presidential campaign, Donald Trump and his sons launched World Liberty Financial, a decentralized finance (DeFi) firm offering digital currencies, including a stablecoin unveiled last week.

In January, Donald and Melania Trump each introduced their own memecoins, a type of cryptocurrency based on online trends and mascots.

These ventures have raised ethical concerns, with government watchdogs warning of potential conflicts of interest.

Since taking office, President Trump has eased regulatory scrutiny on the crypto industry and proposed the creation of a national Bitcoin reserve.

Four years ago, Trump was an outspoken critic of Bitcoin, dismissing it as a “scam.”

Now, he frequently touts plans to make the US the “crypto capital of the planet.”

Industry figures join board of directors

American Bitcoin’s board will include notable investors such as Tinder co-founder Justin Mateen and FabFitFun co-founder Michael Broukhim.

Their involvement signals an effort to bring high-profile backers into the project.

While the new venture is separate from the Trump Organization, it could eventually collaborate with World Liberty Financial.

The company’s priority, however, is ramping up Bitcoin mining operations and amassing a large cryptocurrency reserve.

A post on the company’s X account announced that Eric Trump would present his vision and strategy for American Bitcoin in a livestream on Tuesday.

The post Trump sons launch Bitcoin mining venture with Hut 8, expanding family’s crypto footprint appeared first on Invezz

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media LLC., having Delaware File No. 4697309 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.