- The Trump family is expanding crypto participation with Bitcoin mining.
- HUT has 8 80%, supplying mining machines and hosting operations.
The Trump family deepens the participation of the crypto currency with a great movement to Bitcoin mining. Eric Trump and Donald Trump Jr. partner HUT 8 is a large US -based mining company, American Bitcoin is releasing.
The HUT 8, a public crypto infrastructure company, will control 80% of the American Bitcoin. 11 US data centers will provide approximately 61,000 mining machines and host operations. Eric Trump and Donald Trump Jr.’s company American Data Centers will be united with the new initiative with a 20% stake. According to the press release of the HUT 8, cash was not exchanged in the agreement.
Eric Trump is working as a chef strategy officerThe initiative sees the family as part of the focus of the family on difficult beings. Bitcoin plans to build a reserve and potentially buy the American Bitcoin people. The company will be managed by Matt Prusak, former commercial chairman of the HUT 8.
The venture follows Trumps’ growing crypto footprint. In addition to Bitcoin mining, they supported projects such as World Liberty Financial, Memecoins and a planned stablecoin. President Donald Trump positioned himself as the “Crypto President ve and promised to support the sector.
How will American Bitcoin compete in mining?
Despite environmental concerns about Bitcoin mining, Eric Trump argues that the US energy costs will compete in the American Bitcoin globally. HUT 8 CEO Asher Genoot emphasized the company’s scalable infrastructure and low -cost energy strategy.
The American Bitcoin Board Tinder Founding Partner Justin Mateen and Fabfitfun founding partner Michael Broukhim will take place. The Trump family will not address daily mining operations. The club 8 will manage basic business functions, including finance, compliance and human resources.
The shares of the HUT 8 initially increased in pre -market transactions after the announcement, but then settled for $ 11.69. This year, the company declined by 42.8% in stock value.
Donald Trump JR., mining, emphasizing the advantages of buying Bitcoin only. He believes that the positive mining economy creates a greater opportunity. The company aims to establish itself as a great player in Bitcoin mining while expanding Bitcoin holding.
American Bitcoin’s long -term goal is a public list to attract capital. After re -election, Bitcoin published executive orders supporting digital assets. The HUT 8 will hold a conference meeting on Tuesday to discuss the attempt.
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