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By James Van Straten, AI Boost|Edited by Parikshit Mishra
Mar 31, 2025, 10:31 a.m. UTC
- 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 (BTC) mining, according to a Wall Street Journal report.
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 report, no cash changed hands in the deal.
STORY CONTINUES BELOW
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.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
