Donald Trump Jr. and Eric Trump announced the launch of “American Bitcoin” on Monday. “American Bitcoin” is a new cryptocurrency mining company created through a partnership with publicly-published company HUT 8.
The deal will give Hut 8 an 80% stake in the new entity, with Trump brothers American Data Center holding the remaining 20%. Eric Trump will serve as the company’s Chief Strategy Officer. So far, Donald Trump Jr. has described mining in family pro-crypto movements as “an even greater opportunity.” (Related: Trump places Digital Currency IDEA on Kibosh with one stroke of his pen)
“From the start, we personally supported our belief in Bitcoin through our business,” Donald Trump Jr. said at Shed 8. press release. “But simply buying Bitcoin is only half the story. Mining it into favorable economics opens up even greater opportunities. I’m excited to run this paper and lead investors to that equation through a platform designed to provide genuine and concrete participation in the growth of Bitcoin.”
American Bitcoin is here.
Participate in the official launch presentation on April 1st at 8:30am ET to hear the co-founders @erictrump and @hut8corp The leadership team discusses the company’s vision and strategy.
We will also be holding a space tomorrow at 3pm (ET) (stay… pic.twitter.com/5ffyfwkaf9
– American Bitcoin (@americanbtc) March 31, 2025
The partnership is reportedly taking advantage of the vast majority of Bitcoin-specific parts of Hat8 A hardware and energy-intensive computing infrastructure for processing blockchain transactions and mint new Bitcoin. Trump-backed companies will receive some of the returns in exchange for capital and political recognition that comes with working with the president’s family. The association could provide potential leverage as it strengthens the company’s credibility in Republican circles and provides crypto-friendly regulations. Hut 8 shares surged in pre-market trading after the announcement before the market closed.
“We’re a hard asset family. I’m a hard asset guy,” Eric Trump said I said Wall Street Journal. In his role as Chief Strategy Officer, he is expected to shape the company’s long-term direction and public message. “My life has been spent building things, but I don’t think there’s a better hedge on everything than a true digital asset.”
The venture marks the latest in a string of crypto moves from the Trump family, which recently adopted digital assets as both business opportunities and political statements. The company is now the second Crypto venture launched by two eldest sons in recent months. In September 2024, they co-founded the World Liberty Financial. On Tuesday, they announced plans to release a dollar-covered Stablecoin. Stablecoin is a type of cryptocurrency designed to maintain a fixed value by linking it to a stable asset (usually US dollars).
President Donald Trump also announced the creation of a US “strategic reserve” of cryptocurrency in early March. This includes five largest and most aggressively traded cryptocurrencies, including Bitcoin.
Cryptocurrency is the future – I’m in everything https://t.co/9hdjxrl3xn
– Eric Trump (@erictrump) September 12, 2024
The increase in the first family footprint in the crypto space has attracted praise from some industry leaders, but some lawmakers from Democrat Massachusetts Sen. Elizabeth Warren are screaming for fouls for what they consider to be an unpleasant close alignment between political power and the interests of private crypto. Still, it appears that the president’s two eldest sons have doubled. Painting messages Bitcoin is a “financial revolution.”
Few people in America think that taxes should be spent on juiceling the net worth of a few crypto billionaires, but that’s exactly what’s happening here.
Donald Trump’s Crypto Slash Fund’s idea is pure corruption.https://t.co/hgmizxdxbw
– Elizabeth Warren (@senwarren) March 5, 2025
President Trump in 2019 I said Cryptocurrency is “not money” and “based on a thin air” and appears to have become increasingly friendly with the industry throughout the 2024 presidential election. When he successfully bid for the second term, he promised that he could foster a more crypto-friendly regulatory environment and position the United States as a leader in the digital assets field. The month after his re-election, Bitcoin surged by more than 40%, surpassing its all-time high, surpassing the $100,000 price. (Related: Noditive cryptocurrency will take effect 48 hours after the meeting due to tariffs being effective.)
The digital asset market was surprised as the president’s “liberation day” tariff deadline for Mexico and Canada – approaching April 2nd. Bitcoin prices have now risen around $83,000 as of Monday.
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