Miami, Fla.-based Hut 8—which was formerly based in Toronto and has operations in Ontario and B.C.—has traded the majority of its bitcoin mining operations for an 80 per cent stake in American Data Centers, a company backed by Eric Trump and Donald Trump Jr. As part of the deal, American Data Centers will change its name to American Bitcoin. (The Logic)
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Miami, Fla.-based Hut 8—which was formerly based in Toronto and has operations in Ontario and B.C.—has traded the majority of its bitcoin mining operations for an 80 per cent stake in American Data Centers, a company backed by Eric Trump and Donald Trump Jr. As part of the deal, American Data Centers will change its name to American Bitcoin. (The Logic)
Talking point: The venture is the Trump family’s third foray into digital assets, following U.S. President Donald Trump and his son’s crypto company World Liberty Financial and two tokens launched by the president and his wife Melania in the days leading up to his January inauguration. The ventures have drawn criticism for perceived conflicts of interest, as the Trump administration backs crypto-friendly regulation and a digital asset strategic stockpile. Hut 8, merged with Miami-based US Bitcoin in February 2023 and relocated its headquarters. Former Hut 8 executive Matt Prusak will be CEO of American Bitcoin, while Eric Trump will serve as chief strategy officer.
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