Share this article
Trump Family Enters Bitcoin Mining With New Venture, American Bitcoin
Eric and Donald Trump Jr. have partnered with Hut 8 to launch a major U.S.-based bitcoin-mining company.
Updated Mar 31, 2025, 5:09 p.m. Published Mar 31, 2025, 10:31 a.m.
What to know:
- American Bitcoin will control 61,000 mining machines, with Eric Trump as chief strategy officer and plans to build a “bitcoin reserve.”
- Hut 8 will own 80% of American Bitcoin, supplying the mining hardware and hosting operations at its 11 U.S. data centers to ensure low-cost, large-scale bitcoin production.
- The venture deepens the Trumps' crypto footprint alongside projects like World Liberty Financial, meme coins, and a planned stablecoin.
The Trump family is deepening its involvement in cryptocurrency with a major move into bitcoin mining, according to a Hut 8 press release.
Eric Trump and Donald Trump Jr. are merging their firm, American Data Centers, with a new mining venture called American Bitcoin, taking a 20% stake in the company. The remaining 80% will be owned by Hut 8, a publicly traded crypto infrastructure firm, which is contributing nearly 61,000 mining machines to the new entity. According to the release, no cash changed hands in the deal.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Eric Trump, who will serve as American Bitcoin’s chief strategy officer, describes the initiative as aligned with the family’s focus on hard assets, likening digital currencies to real estate. He emphasized plans to build a “bitcoin reserve” and potentially take the company public.
Although American Bitcoin is separate from the Trump Organization, it may eventually collaborate with World Liberty Financial—the DeFi project launched by the Trump brothers.
Hut 8 will host the mining operations in its 11 U.S. data centers. CEO Asher Genoot said low energy costs and scalable infrastructure will give American Bitcoin a competitive edge.
The board of directors will include Tinder co-founder Justin Mateen and FabFitFun co-founder Michael Broukhim. Despite criticism over bitcoin mining’s environmental impact, Eric Trump believes lower U.S. energy costs will help American miners outpace global competitors.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
UPDATE (March 31, 12:50 UTC): Updates story with Hut 8's confirmation.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
