Trump’s sons launch the Bitcoin Mining Project with HUT 8, and expand the scope of the encrypted imprint of the family
Eric Trump and Donald Trump Junior announced on Monday their investment in a new mining project in Bitcoin, which increases the expansion of the fingerprint of the family in the encrypted currency industry.
Trump’s sons participate with Hut 8, a leading company in Bitcoin Mining, to create a new company called American Bitcoin.
Bitcoin mining includes operating thick power machines to verify the health of bitcoin transactions and recent coins.
The industry has seen great growth in recent years despite concerns about its environmental impact.
Donald Trump Junior emphasized the economic capabilities of mining simply the bitcoin contract.
“From the beginning, we supported our condemnation in Bitcoin, personally and through our work,” Donald Trump said in a statement.
But simply buy bitcoin is only half the story. Mining it on the positive economy opens a greater chance.
Koch 8 to control the majority share
Under the terms of the deal, HUT 8 will have 80 % of the new company, while the remaining 20 % will be held by American Data Center Inc. It is an investment entity that includes Eric and Donald Trump Junior.
The advertisement was included in Eric Trump as a co -founder and chief strategic official of the new company.
HUT 8 will operate the US Bitcoin mining facilities through 11 data centers in the United States.
The CEO of ASher Genot highlighted the advantages of the US -based operations, pointing to the low energy costs and infrastructure that can be developed as major factors in maintaining a competitive advantage.
Despite concerns about the environmental footprint of Bitcoin mining, Eric Trump has argued that American miners will outperform global competitors due to low energy costs in the United States.
Deep encryption relationships of the Trump family
The Bitcoin Mining Initiative is the third Trump’s encrypted currency currency project last year.
During the 2024 presidential campaign, Donald Trump and his sons launched World Liberty Financial, a decentralized financing company (Defi) that offer digital currencies, including Stablecoin that was unveiled last week.
In January, Donald and Melania submitted their own mechanics, a type of cryptocurrency based on online trends and amulet.
These projects have sparked moral concerns, with government motives warnings of the conflict of potential interests.
Since he took office, President Trump has reduced the organizational scrutiny in the encryption industry and suggested the creation of a National Bitcoin Reserve.
Four years ago, Trump was an explicit critic of Bitcoin, and he rejected it as a “fraud”.
Now, it often tells that it plans to make the United States “the planet’s encryption capital”.
Industry numbers join the Board of Directors
Bitcoin America’s Board of Directors will include prominent investors like the co -founder of Tinder Justin Mateen and co -founder of FabFitfun Michael Broukhim.
Their participation indicates an attempt to bring prominent supporters to the project.
While the new project is separate from Trump, it can eventually cooperate with World Liberty Financial.
However, the company’s priority is to increase bitcoin mining operations and collect large cryptocurrency reserves.
A X’s X’s account announced that Eric Trump will present his vision and strategy for the American Bitcoin on the live broadcast on Tuesday.
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