Bitcoin miner Hut 8 (HUT) has teamed up with Eric Trump to launch American Bitcoin—a new venture aiming to become the most powerful pure-play mining company in the world.
Trump Family Steps Into Mining
Announced Monday, American Bitcoin was formed by merging Hut 8’s mining operations with a Trump-linked investor group, including Eric Trump and Donald Trump Jr. The new company plans to scale past 50 exahashes per second while maintaining an average fleet efficiency below 15 joules per terahash—a key metric in energy-efficient mining.
“It is a great honor to partner with Hut 8,” said Eric Trump, who will serve as Chief Strategy Officer. “We are poised to strengthen our foundation and drive significant future growth.”
Hut 8 Keeps Control and Focuses on Infrastructure
Hut 8 contributed most of its ASIC miners in exchange for an 80% stake in American Bitcoin, now a standalone entity. It will still consolidate American Bitcoin’s performance in its financials and act as its exclusive operations partner. That means Hut 8 will handle the infrastructure while American Bitcoin focuses solely on mining and building a strategic Bitcoin reserve.
The move, according to Hut 8 CEO Asher Genoot, “aligns each segment of the business with its respective cost of capital” and allows both companies to specialize more effectively.
Trump Ties Highlight Deeper Political-Crypto Crossover
Donald Trump Jr. called mining “an even bigger opportunity” than simply holding Bitcoin, and emphasized the goal of bringing investors direct exposure to BTC production. The venture marks the clearest signal yet of the Trump family leaning deeper into crypto—not just as supporters, but operators.
American Bitcoin Aims for Public Listing
The company plans to go public and is positioning itself for long-term growth through operating leverage, capital efficiency, and on-chain exposure. With Hut 8’s technical know-how and the Trump family’s capital markets clout, American Bitcoin is being pitched as a platform built to scale fast—and make noise doing it.
A conference call to discuss the deal is scheduled for April 1 at 8:30 a.m. ET.
Investors Should Stay Ahead by Tracking Crypto on TipRanks
The launch of American Bitcoin—backed by Hut 8 and Eric Trump—shows how institutional and political forces are now shaping the next phase of crypto mining. This isn’t just about buying Bitcoin anymore. It’s about who’s building the infrastructure, raising capital, and setting the tone for how mining scales in the U.S.
For investors trying to keep up, real-time insights matter. This can be achieved by leveraging tools like TipRanks’ Cryptocurrency Center to track their favorite cryptos. Click on the image below to stay ahead in this rapidly changing space.
Is Hut 8 a Good Buy?
Analysts remain optimistic about HUT stock, with a Strong Buy consensus rating based on a unanimous 9 Buys. Over the past year, HUT has increased by more than 5%, and the average HUT price target of $31.13 implies an upside potential of 167.06% from current levels.
