American Bitcoin Corp., backed by the Trump family, is gearing up to raise more capital, possibly through an IPO, as reported by Bloomberg. Recently, Hut 8, a Bitcoin mining company, acquired a majority stake in American Bitcoin, transferring its mining equipment to the new entity. While American Bitcoin will focus on crypto mining, Hut 8 aims to expand into data center infrastructure. This strategic move positions them as sister companies, enhancing their financial predictability and lowering costs. Amid declining crypto prices, miners are diversifying into AI data-center hosting to boost revenues.