The Trump family has expanded its involvement in the cryptocurrency industry with the launch of American Bitcoin, a new bitcoin mining venture. President Donald Trump's sons, Eric Trump and Donald Trump Jr., have partnered with Hut 8, a prominent crypto-infrastructure firm, to establish this initiative. The collaboration involves merging their existing entity, American Data Centers, Inc., with Hut 8's mining operations. Hut 8 will hold an 80% stake in the venture, while American Data Centers retains the remaining 20%. Eric Trump will serve as the chief strategy officer, and Matt Prusak, formerly of Hut 8, will assume the role of CEO.

American Bitcoin aims to become the world's largest and most efficient bitcoin miner while building a significant bitcoin reserve. Hut 8 will provide the ASIC fleet, locations, and support to the new company, which will operate as an independent financial entity.

This venture is part of the Trump family's broader strategy to position the United States as a leader in the cryptocurrency sector. It follows previous initiatives, including the creation of a stablecoin through World Liberty Financial, designed to be redeemable for US dollars and backed by government Treasurys and other equivalents.