Donald Trump Jr. and Eric Trump partner with Hut 8 to launch “American Bitcoin,” a new mining venture aiming to go public, as the Trump family expands its crypto footprint.
Donald Trump Jr. and Eric Trump, the sons of former President Donald Trump, are diving deeper into the cryptocurrency world with the launch of American Bitcoin, a new mining subsidiary in partnership with publicly traded mining firm Hut 8. The venture, announced Monday, marks the latest expansion of the Trump family’s growing influence in digital assets a sharp pivot from the former president’s earlier skepticism.
Under the deal, Hut 8 will contribute nearly all of its specialized Bitcoin mining hardware to the new company in exchange for an 80% stake. The Trump brothers’ ownership share, if any, remains undisclosed. Eric Trump has been named co-founder and chief strategy officer, while Hut 8’s former chief commercial officer, Matt Prusak, will serve as CEO. The board includes high-profile names like Justin Mateen, co-founder of Tinder, alongside Hut 8 executives.
The action comes amid political and economic headwinds facing Bitcoin mining a power-hungry botting process in which computers compete to validate transactions and earn new coins. Yet the Trumps are betting on the sector’s long-term potential. “Simply buying Bitcoin is only half the story,” Trump Jr. said in a statement. “Mining it on favorable economics opens an even bigger opportunity.”
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American Bitcoin’s ultimate goal is to go public, according to regulatory filings. But for now, Hut 8 will handle the operational heavy lifting, including compliance, HR, and mining infrastructure a familiar model for the Trump brand, which has long licensed its name to ventures it doesn’t directly manage.
The launch underscores the Trump family’s rapid embrace of crypto. Once dismissive of Bitcoin, Donald Trump has since courted crypto executives, championed mining at industry conferences, and pushed pro-crypto policies since his reelection. His sons have followed suit, backing ventures like the stablecoin project USD1 and now entering the mining arena.
Market reaction was initially bullish, with Hut 8’s stock surging in pre-market trading before settling back. Yet the long-term success of American Bitcoin hinges on volatile crypto markets and regulatory landscapes challenges even the Trump name may not easily overcome.
As the industry watches, one thing is clear: the Trumps are all-in on crypto, turning skepticism into strategy one mining rig at a time.
