Donald Trump’s eldest sons, Donald Trump Jr. and Eric Trump, have taken a significant step into the Bitcoin mining industry. Their latest venture, in partnership with Hut8, aims to strengthen the family’s involvement in the crypto sector.
Trump’s Sons Launch Bitcoin Mining Business
In February, Eric and Donald Trump Jr. rebranded Dominari, a small investment firm, into American Data Centre. Shortly after, the firm partnered with Hut8, one of North America’s largest Bitcoin miners, to establish a new entity—American Bitcoin.
According to a Wall Street Journal report, American Bitcoin will operate over 61,000 mining machines supplied by Hut8. Under the agreement, Hut8 will control 80% of the venture, while the Trump sons hold the remaining 20%. Unlike traditional mining companies, American Bitcoin will focus on accumulating Bitcoin for a strategic reserve instead of immediate liquidation.
Notably, Donald Trump Jr. and Eric Trump have clarified that American Bitcoin operates independently from the Trump Organization. Moreover, they emphasized that the company is not affiliated with President Trump’s recent executive order establishing a Bitcoin stockpile for the United States.
Trump Family’s Expanding Crypto Footprint
The Trump family has significantly increased its exposure to the cryptocurrency sector in recent months. President Trump has openly supported Bitcoin, vowing to make the U.S. a global hub for crypto innovation. His administration has also attracted substantial industry funding and backing.
Additionally, the family launched World Liberty Financial (WLFI), a decentralized finance enterprise aiming to disrupt traditional banking. They have also announced plans to introduce a crypto exchange-traded fund (ETF) and launch a stablecoin.
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Donald Trump Jr. reaffirmed the family’s commitment to Bitcoin, stating that mining is a crucial next step beyond just acquiring the asset. He believes American Bitcoin will play a key role in shaping the U.S. crypto mining landscape.
Eric Trump will serve as Chief Strategy Officer for American Bitcoin, while Matt Prusak, former chief commercial officer of Hut8, will take on the role of CEO. The company has also disclosed its ambition to go public in the future, further solidifying its presence in the industry.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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