The Trump family is expanding its presence in the crypto space with a new Bitcoin mining venture, marking its third major foray into digital assets. Eric Trump and Donald Trump Jr. have joined forces with publicly traded mining firm Hut 8 to launch American Bitcoin, a company set to capitalise on the lucrative Bitcoin mining industry.
A Strategic Shift Towards Mining
Donald Trump Jr. highlighted the family’s deepening commitment to Bitcoin, stating that simply buying the asset is “only half the story” and that mining offers an even greater financial opportunity.
The deal sees Hut 8 controlling 80% of the venture, while the remaining 20% is owned by American Data Centers, a firm backed by Eric Trump and other investors. Eric Trump, listed as co-founder and chief strategy officer, is expected to shape the company’s long-term vision.
The Trump Crypto Empire Expands
This move follows two other major Trump-linked crypto ventures:
World Liberty Financial (WLFI) – A Trump-backed DeFi project that recently raised $590 million through a token sale.
Trump Family Memecoins – On the eve of Trump’s inauguration, both Donald and Melania Trump launched their own memecoins, tapping into the speculative side of crypto.
With this latest Bitcoin mining venture, the Trumps are solidifying their role as key players in the digital asset industry, despite past skepticism.
The Environmental and Ethical Debate
Bitcoin mining has long faced criticism for its high energy consumption and environmental impact. Large-scale mining operations, like those run by Hut 8, require vast amounts of computing power, leading to concerns from environmental activists and local communities.
Moreover, the Trump family’s deepening involvement in crypto while holding political influence has raised concerns about conflicts of interest. Ethics experts warn that Trump’s relaxed crypto regulations and the government’s new Bitcoin stockpile strategy could directly benefit his business ventures.
