Trump-Backed American Bitcoin Mining Venture To Go Public!

As per the latest reports, mining venture giant, American Bitcoin Corp. has announced this week that it plans to go public this week with Hut 8 Corp and additional private investors. Reportedly, this group of investors includes two sons of US President Donald Trump, Eric Trump Donald Trump Jr.

Notably, the launch of the Bitcoin mining venture came after Hut 8 which is one of the largest public-listed crypto-mining companies. Recently, it expressed a huge interest in “American Data Centers Inc.”, a company formed by a group of investors including two sons of the state head.

American Bitcoin Hut 8!

Adding to this, Hut 8 has recently transferred all of its Bitcoin mining equipment into the new entity, the “American Bitcoin”. Reportedly, this venture is claimed to be purely a Bitcoin mining company where Hut 8 will focus on the data center business. With this, the firms plan to form an integrated firm with strong economics and the backing of private investors.

During an interview on Tuesday with Bloomberg TV, Asher Genoot said “So you can see this in the long term as two sister publicly traded companies. One-half is energy and infrastructure data centers. While the other is Bitcoin, AISCs, and reserves. Together we form a company that has some of the best economics out there.”

As per reports, the Bitcoin mining industry has witnessed a sharp fall post-having 2024. Furthermore, increasing competition in the market due to new miners has made the market volatile. Moreover, public miners have benefited the most from rising Bitcoin prices during this period.

Moreover, Eric Trump stated, “We are going to become the greatest Bitcoin mining company on earth and we are doing it here in America.” Newer entities will also consider taking private investments before going public, added Gennot.