Key Takeaways:
- American Bitcoin Corp., backed by Donald Trump Jr. and Eric Trump, is planning a potential IPO after a majority acquisition by Hut 8.
- Hut 8 transferred its mining equipment to American Bitcoin and will now focus on data center infrastructure for high-performance computing.
- The new entity collaborates with Bitmain, a Chinese mining hardware firm previously linked to U.S. blacklisting concerns.
American Bitcoin Corp., a crypto mining company backed by Donald Trump Jr. and Eric Trump, is exploring plans to raise capital through an initial public offering (IPO), according to an April 1 Bloomberg report.
The venture was formed following a deal with Hut 8, a publicly traded Bitcoin miner, which acquired a majority stake in the company—formerly known as American Data Centers—on March 31.
American Bitcoin, the crypto mining venture announced this week between Hut 8 and an investor group that includes two sons of President Donald Trump, plans to eventually go public https://t.co/FZvZypFWTz
— Bloomberg Crypto (@crypto) April 1, 2025
After the acquisition, Hut 8 transferred its mining equipment to American Bitcoin, which is not yet publicly traded.
While American Bitcoin will focus on crypto mining, Hut 8 is shifting toward data center infrastructure for high-performance computing and other use cases.
Hut 8 CEO Asher Genoot stated that the move positions the company toward more stable, financeable, and lower-cost-of-capital segments.
Genoot explained that the goal is to create two sister publicly traded companies: one focused on energy and infrastructure, and the other on Bitcoin mining, forming a vertically integrated operation with “some of the best economics out there.”
Additionally, American Bitcoin is collaborating with Bitmain, a Chinese Bitcoin mining hardware supplier.
However, Bitmain faces scrutiny after the U.S. blacklisted its AI affiliate, Sopghgo, adding regulatory concerns to the partnership.
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