{"id":19946,"date":"2025-03-31T20:31:55","date_gmt":"2025-03-31T20:31:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=19946"},"modified":"2025-03-31T20:31:55","modified_gmt":"2025-03-31T20:31:55","slug":"hut-8-transfers-asic-miners-to-launch-american-bitcoin-with-trump-family-backing","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=19946","title":{"rendered":"Hut 8 Transfers ASIC Miners to Launch American Bitcoin with Trump Family Backing"},"content":{"rendered":"
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Hut 8 Corp. has launched American Bitcoin Corp, a majority-owned subsidiary designed to focus on industrial-scale Bitcoin mining and reserve development. This move follows the crypto mining company\u2019s strategic decision to contribute nearly all of its ASIC miners to American Data Centers, Inc. in return for a majority stake in the company.<\/p>\n

The company, initially backed by investors like Eric Trump and Donald Trump Jr., was later rebranded as American Bitcoin after the transaction.<\/p>\n

American Bitcoin Corp<\/h2>\n

According to an official press release<\/a>, all Bitcoin mining operations once categorized under Hut 8\u2019s Compute segment will now be handled under the American Bitcoin brand but remain within the same segment. Initially, American Bitcoin\u2019s results will be consolidated into the crypto mining company\u2019s financial reports.<\/p>\n

Hut 8 will become American Bitcoin\u2019s exclusive infrastructure and operations partner and will aim to generate steady revenue through long-term contracts in Hut 8\u2019s Power and Digital Infrastructure sectors. Meanwhile, American Bitcoin plans to become the largest and most efficient Bitcoin miner globally while also focusing on creating a strategic Bitcoin reserve.<\/p>\n

Commenting on the development, Eric Trump, Co-founder of American Bitcoin, said,<\/p>\n

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\u201cIt is a great honor to partner with Hut 8, a recognized leader in the Bitcoin space, as we launch American Bitcoin. By combining Hut 8\u2019s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance, we are poised to strengthen our foundation and drive significant future growth.\u201d<\/p>\n<\/blockquote>\n

The board of directors will have four members: Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim. The mining company said that it will provide exclusive ASIC colocation and managed services to American Bitcoin, as well as day-to-day management through a shared services agreement.<\/p>\n

Trump Family\u2019s Crypto Expansion<\/h2>\n

The latest development comes after Eric Trump recently joined<\/a> Metaplanet\u2019s Strategic Board of Advisors.<\/p>\n

Besides, Donald Trump\u2019s push to make the US a prominent player in the crypto industry is gaining traction through the family\u2019s ongoing initiatives in the crypto industry.<\/p>\n

Apart from American Bitcoin, they have also launched World Liberty Financial (WLF), which has invested $85 million in cryptocurrencies since its founding. WLF is now looking into introducing<\/a> a stablecoin.<\/p>\n

The post Hut 8 Transfers ASIC Miners to Launch American Bitcoin with Trump Family Backing<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hut 8 Corp. has launched American Bitcoin Corp, a majority-owned subsidiary designed to focus on industrial-scale Bitcoin mining and reserve development. This move follows the crypto mining company\u2019s strategic decision to contribute nearly all of its ASIC miners to American Data Centers, Inc. in return for a majority stake in the company. The company, initially […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-19946","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/19946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19946"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/19946\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}