The Trump family joins its forces with HUT 8 to launch the Bitcoin Mining Project

Trump’s family enter Bitcoin (BTC) Mining Commerce with a new company called American Bitcoin.

According to press release On March 31, Eric Trump and Donald Trump Junior cooperated with the infrastructure company for public trading to launch a Bitcoin mining American Bitcoin Company. Eric and Donald Trump Junior will own 20 % of the company, while HUT 8 will own the remaining 80 %.

Initially, the company will focus on mining operations. Moving forward, Trump has mentioned plans to build a strategic bitcoin reserve and may be announced.

“From the beginning, we have supported our condemnation in Bitcoin – personally and through our business,” said Donald Trump Junior. “But simply buy bitcoin is only half of the story. Its mining on the favorable economy opens a greater chance.”

This project is part of the Trump family’s expanding participation in the encryption sector, which also includes other projects such as The world is financial freedom and Possible stablecoin.

Despite concerns about the environmental impact of Bitcoin Mining, says Eric Trump, who will serve as the chief official of the company’s strategic officials, says low energy costs in the United States will give American miners a competitive advantage worldwide. Ashir Genot, CEO of HUT 8, also noted that the competitive advantage of the American Bitcoin will come from low energy costs and developmental infrastructure.

For 80 % share in the American bitcoin, Cotton 8 It will provide 61,000 mining machines and host operations in 11 American data centers. 8 shares cottage jump 6.4 % after the announcement, but it still decreased by 42.8 % this year.

Asher Genot, CEO of HUT 8, commented on the partnership:

“By carving our mining work to an independent entity, which will win its own capital, we are aligned with each of their capital’s business cost. The transaction creates two concentrated but complementary companies, all of whom are designed for the purpose for the American American organization. Growth, bitcoin production and leverage.”