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Key Takeaways
- Eric and Donald Trump Jr. have partnered with Hut 8 to launch a Bitcoin mining firm, American Bitcoin.
- The Trump-backed American Data Centers Inc. will own 20% of the new venture, while Hut 8 will have an 80% stake.
- The decision to enter the Bitcoin mining space deepens the Trump family’s involvement in crypto amid growing regulatory concerns.
US President Donald Trump’s sons, Eric and Trump Jr., have partnered with Hut 8 to launch American Bitcoin, a new crypto firm focusing on industrial-scale Bitcoin mining and strategic reserve development.
According to a press release by Hut 8, the new venture has Hut 8 as the majority shareholder with an 80% stake, while the Trump family, through a private investor consortium that includes Eric Trump and Donald Trump Jr., is entitled to a 20% holding.
The President’s two sons will be directly involved in the leadership of American Bitcoin, where Eric will serve as Chief Strategy Officer. The initiative has been structured to formalize the Trump family’s continued investment in digital assets through equity, operational roles, and infrastructure alignment.
The Mining Industry has Experienced Tremendous Growth
The statement from Hut 8 reiterated that the new venture aimed to become ‘the world’s largest, most efficient pure-play Bitcoin miner while building a robust strategic Bitcoin reserve.” Hut 8 will be responsible for the mining operations but will operate through the American Bitcoin brand. Donald Trump Jr. stated:
“Mining it on favorable economics opens an even bigger opportunity. We’re excited to bring investors into that equation through a platform engineered to execute this thesis and deliver real, tangible participation in Bitcoin’s growth.”
Bitcoin mining is an energy-intensive undertaking that uses computing power to validate Bitcoin transactions and earn miners newly minted coins. Despite the environmental concerns surrounding it, the industry has experienced tremendous growth over the years. Concerning the potential for profitability, Donald Trump Jr. stated:
“From the start, we’ve backed our conviction in Bitcoin, personally and through our businesses.”
Conflict of Interest Issues
The entry into the lucrative but highly competitive world of Bitcoin mining becomes the Trump family’s third serious crypto venture within less than a year. President Trump and his sons launched World Liberty Financial, a decentralized finance (DeFi) venture, during the Presidential campaigns in September 2024, including a stablecoin, USD1, launched last week. On the eve of his inauguration in January this year, Trump and First Lady Melania launched their meme coins, $TRUMP and $MELANIA.
The US First family’s ventures into the crypto space haven’t gone smoothly with several lawmakers and other industry players, with several government regulatory agencies raising concerns about potential conflict of interest. From a severe crypto critic who called Bitcoin a scam four years ago, President Trump has, since taking office, made headlines by doing everything at his disposal to ease regulatory scrutiny and issuing an executive order to create a strategic Bitcoin reserve. He frequently touts plans to make the US the “crypto capital of the planet.”
Conclusion
While the newly launched American Bitcoin may be separate from the other Trump family entity, World Liberty Financial, the two could eventually collaborate. Hut 8 has reportedly surpassed $1 billion worth of Bitcoin holdings after it acquired some 990 Bitcoins for $100 million at the end of 2024. The latest acquisition brings the company’s total holdings to 10,096 BTC at a time when Bitcoin mining revenue approached $3.6 billion in Q1 2025 as industry income stabilized after the last halving.
Frequently Asked Questions (FAQs)
How long does it take to mine $1 of Bitcoin?
You can’t draw a straight line on how long it takes to mine one Bitcoin. In some cases, mining just a single bitcoin can take anywhere from 10 minutes to 30 days, depending on your hardware and software setup.
Do bitcoin miners make money?
Yes, it’s possible to make money, although, as a solo miner, you might not make as much as you’d like. Most Bitcoin miners today join mining pools. However, on a good day, you can earn a few dollars—probably less than you spent on electricity.
Is crypto mining still profitable?
Yes, crypto mining can be profitable. However, miners need to consider various factors, including electricity costs, mining difficulty, and market conditions, which can significantly impact profitability.