Bitcoin Miner Hut 8 and Donald Trump family sign deal

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Bitcoin Miner Hut 8 Enters Deal With Donald Trump’s Son, Key Details – Crypto News

Published

9 months ago

March 31, 2025

Dripp

Bitcoin miner Hut 8 has reportedly partnered with the Donald Trump family business to launch a new BTC mining venture while strengthening the President’s involvement in the crypto space. The announcement from Hut 8 came earlier today, revealing its partnership with Eric Trump and Donald Trump Jr.

Bitcoin Miner Hut 8 to Establish American Bitcoin Corp

Earlier today, Hut 8 announced the launch of American Bitcoin Corp., a majority-owned subsidiary focused exclusively on industrial-scale Bitcoin mining and strategic Bitcoin reserve development.

The launch comes along with the BTC miners’ strategic contribution of its ASIC miners in exchange for a majority stake in American Data Centers, Inc., a company backed by investors including Eric Trump and Donald Trump Jr. Howefer, following the collaboration, they have renamed American Data Centers to American Bitcoin Corp. by relaunching the entity.

As a result, all Bitcoin mining activities that previously came under Hut 8’s Compute segment will now continue under the American Bitcoin brand. Furthermore, the Bitcoin miner will act as American Bitcoin’s exclusive infrastructure and operations partner under long-term agreements. These agreements between the Trump family and the mining firm will provide stable, contracted revenue streams for the mining firm.

Building the World’s Largest Bitcoin Mining Operation

American Bitcoin, the joint venture between Hut 8 and the Trump family, seeks to establish itself as the largest and most efficient pure-play Bitcoin miner. Additionally, this joint collaboration will also establish a robust strategic Bitcoin reserve.

This venture combines Hut 8’s expertise in mining operations and cost-efficient infrastructure development with Eric Trump’s commercial and capital markets experience, further advancing decentralized financial systems. Speaking on the development, Eric Trump, Co-founder of American Bitcoin said:

“By combining Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance, we are poised to strengthen our foundation and drive significant future growth.”

As a result of this development, the Hut 8 stock price is up 5.45% in the pre-market trading hours, moving to $12.36 levels. However, it is still down by 46% since the beginning of 2025.

Recent Industry Developments

The Bitcoin mining industry has been going through a volatile period as the BTC price remains under pressure since the beginning of 2025. As per crypto analyst Ali Martinez, the Bitcoin miner reserve has been on a decline as they sold 2,400 BTC worth $220 million during the last week.

Source: Ali Martinez

On the other hand, Hut 8 competitor and BTC miner Marathon Digital Holdings (MARA) announced a $2 billion at-the-market (ATM) stock offering as part of its strategy to acquire more Bitcoin. As one of the largest Bitcoin mining firms in the U.S., Marathon plans to raise capital through share sales, with the proceeds primarily allocated toward expanding its Bitcoin reserve.

Bitcoin price has come under strong selling pressure, correcting another 1.7% today and slipping to $81,500. The global market is bracing for the impact of the Trump “Liberation Day” on April 2, and the tariff week ahead.