#AmericanBitcoinLaunch

Bitcoin surpassed $84.000

Hut 8, Eric Trump to launch bitcoin mining company

March 31 (Reuters) - Hut 8 (HUT.O), opens new tab said on Monday it had joined hands with President Donald Trump's son, Eric Trump, to launch a bitcoin mining company called American Bitcoin.

Miami, Florida-based Hut 8 merged the majority of its mining operations for an 80% stake in American Data Centers, a company formed by a group of investors including Eric Trump and Donald Trump Jr. that has been relaunched as American Bitcoin.

President Trump has promised to be the "crypto president," who will popularize its mainstream use in America.

U.S.-listed shares of Hut 8 jumped 6.4% in premarket trading. They have fallen 42.8% so far this year as of last close.

"From the start, we've backed our conviction in Bitcoin -personally and through our businesses," Donald Trump Jr. said.

"But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity."

American Bitcoin will mainly focus on bitcoin mining while building a strategic bitcoin reserve. The company will be led by CEO Matt Prusak, with Eric Trump serving as the chief strategy officer.