Trump-Backed Crypto Mining Venture Wants To Go Public

Eric Trump is moving deeper into crypto, teaming up with Miami-based Bitcoin mining firm Hut 8 for his latest venture, American Bitcoin Corp (ABC). The company aims to list publicly, enhancing the Trump family's ever-growing crypto footprint.

Leveraging Hut 8’s infrastructure, ABC aspires to become a major player in the U.S. Bitcoin mining sector, focusing exclusively on Bitcoin mining, whereas Hut 8 will concentrate on its data-center operations.

“So you can see this, in the long term, as two sister publicly traded companies,” Asher Genoot, chief executive officer of Hut 8, told Bloomberg in an interview on Tuesday. “One that is energy, infrastructure data centers and the other one that’s Bitcoin, AISCs and reserves and together they form a vertically integrated company that has some of the best economics out there.”

Following the launch of World Liberty Financial and the USD1 stablecoin, this move marks yet another strategic dive into the industry for the Trumps.