‘Hard-Asset Family’: Trump Sons Launch Bitcoin Mining Venture

Donald Trump Jr. and Eric Trump announced Monday the launch of “American Bitcoin,” a new cryptocurrency mining company created through a partnership with publicly traded firm Hut 8.

The deal gives Hut 8 an 80% stake in the new entity, while the Trump brothers’ American Data Centers Inc. will hold the remaining 20%. Eric Trump will serve as the firm’s chief strategy officer. Donald Trump Jr. described mining as “an even bigger opportunity” in the family’s pro-crypto moves so far.

“From the start, we’ve backed our conviction in Bitcoin — personally and through our businesses,” Donald Trump Jr. said in a Hut 8 press release. “But simply buying Bitcoin is only half the story. 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 on this thesis and deliver real, tangible participation in Bitcoin’s growth.”

The partnership will reportedly leverage Hut 8’s vast troves of Bitcoin-specifichardware and energy-intensive computing infrastructure to process blockchain transactions and mint new Bitcoin. The Trump-backed company will receive a portion of the returns in exchange for capital and the political visibility that comes with aligning itself with the president’s family. This association could bolster the company’s credibility in Republican circles and offer potential leverage as the administration crafts crypto-friendly regulations. Hut 8’s stock spiked in pre-market trading following the announcement before leveling out by market close.

“We are a hard-asset family. I’m a hard-asset guy,” Eric Trump told the Wall Street Journal. In his role as chief strategy officer, he is expected to shape the company’s long-term direction and public messaging. “My entire life has been spent building things, and I don’t think there is ever a better hedge against all of that than the true digital assets.”