Eric Trump and Donald Trump Jr. have launched a new Bitcoin mining venture named American Bitcoin in collaboration with Hut 8, signifying their growing interest in the cryptocurrency market. While Hut 8 will hold an 80% stake in the new company, the Trump sons will secure the remaining 20% via American Data Centers Inc. This venture follows previous crypto initiatives by the Trump family, including the launch of a stablecoin and a memecoin, reinforcing their commitment to Bitcoin and its mining opportunities as key economic ventures.
From the start, we've backed our conviction in Bitcoin, personally and through our businesses, Donald Trump Jr. said in a statement. But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity.
The announcement on Monday by Hut 8 listed Eric Trump as a co-founder of the new mining venture and said he would serve as its chief strategy officer.
Under the terms of the deal, Hut 8 will control 80 percent of the new company, with the other 20 percent going to a business entity called American Data Centers Inc. whose investors include the two Trump sons.
The mining project is the third major crypto venture that the Trump family has started over the past year.
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