Donald Trump Jr. and Eric Trump are making headlines by backing American Bitcoin, a groundbreaking initiative in partnership with digital asset firm Hut 8. This project aims to establish the world’s largest and most efficient Bitcoin mining operation while creating a strategic Bitcoin reserve.
On March 31, Hut 8 announced its acquisition of a majority stake in American Bitcoin, formerly known as American Data Center. This strategic move is set to position American Bitcoin as a leader in Bitcoin mining and infrastructure, merging operational scale with strategic Bitcoin accumulation.
American Bitcoin was founded by a group of investors, including Donald Trump Jr. and Eric Trump, who have been long-time advocates for Bitcoin and digital assets. As part of the acquisition, American Bitcoin will take ownership of Hut 8’s Bitcoin mining hardware and continue operations under its brand.
Donald Trump Jr. highlighted the venture's goal of mining Bitcoin under favorable economic conditions, which he believes will create new opportunities for investors. He emphasized that the platform is designed to provide direct exposure to Bitcoin’s growth while focusing on long-term accumulation and operational efficiency.
Hut 8 CEO Asher Genoot described the launch of American Bitcoin as a significant evolution in the company’s strategy. By separating the mining business into a dedicated entity, Hut 8 aims to streamline operations and raise capital more effectively, allowing American Bitcoin to focus solely on Bitcoin mining and scaling efforts.
This initiative reflects the Trump family's increasing involvement in the cryptocurrency market. President Donald Trump has been a proponent of pro-crypto policies, and the family has expanded its presence in various digital asset initiatives. Earlier this year, President Trump pardoned the co-founders of crypto exchange BitMEX, signaling a shift toward favorable crypto regulation.
In addition to launching the Official Trump (TRUMP) meme coin, the Trump Technology Group has partnered with Crypto.com to introduce a new suite of crypto exchange-traded funds (ETFs). The family has also rolled out the World Liberty Financial decentralized finance protocol and a new stablecoin, USD1.
The timing of American Bitcoin’s expansion aligns with robust growth in the Bitcoin mining industry, which saw revenues surge to $3.6 billion in Q1 2025. Hut 8 has also experienced significant growth, acquiring additional Bitcoin and strengthening its market position.
This venture marks a pivotal moment for the Trump family in the cryptocurrency landscape, showcasing their commitment to innovation and growth in this dynamic sector.
