- The Trump family expands its encryption participation with bitcoin mining.
- HUT 8 owns 80 %, supply mining machines and hosting.
The Trump family deepened its participation in the cryptocurrency with a large transition to bitcoin mining. Eric Trump and Donald Trump Junior partnership With HUT 8 to launch Bitcoin America, a large -scale mining company in the United States.
HUT 8, an infrastructure company for the public, will control the public, to 80 % of the American bitcoin. It will provide approximately 61,000 mining machine and host operations through 11 US data centers. Eric Trump and Donald Trump JR. , American Data Center, with the new project, which carries a 20 % stake. No money was exchanged in the deal, according to the HUT 8 press statement.
Eric Trump, works as president Strategy OfficerThe project sees as part of the family’s focus on difficult assets. He plans to build Bitcoin reserves and may take the American bitcoin. The company will lead Matt Brucek, the former chief trading official in Hut 8.
The project follows the growing encryption fingerprint trramps. Besides Bitcoin Mining, they supported projects such as World Liberty Financial, Memecoins and planned Stablecoin. President Donald Trump also put himself “the head of encryption”, pledging to support this industry.
How will the American Bitcoin coin compete in mining?
Despite the environmental concerns about Bitcoin Mining, Eric Trump argues that low energy costs in the United States will make the American Bitcoin competitive worldwide. Asher Genot, CEO of HUT 8, emphasized the developmental infrastructure in the company and the cost -saving energy strategy.
It will include the American Bitcoin Council, the founder of Tinder, Justin Mattin, Fabfitfun founder, Michael Broccim. The Trump family will not deal with daily mining. HUT 8 will manage basic business jobs, including financing, compliance and human resources.
HUT 8 shares initially rose in pre -market trade after advertising, but later settled at $ 11.69. The company faced a decrease of 42.8 % in the stock value this year.
Donald Trump Junior highlighted the advantages of mining simply buying bitcoin. He believes that favorable mining economics create a greater chance. The company aims to establish itself as a major player in Bitcoin Mining with the expansion of Bitcoin’s possessions.
The American long -term Bitcoin goal is a general list to attract capital. After his re -election, he issued executive orders that support bitcoin and digital assets. HUT 8 will make a phone call on Tuesday to discuss the project.
The encryption news was highlighted today
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