The right team and the right time“We’ve thought about splitting out our Bitcoin mining and energy infrastructure businesses for some time,” Genoot said.“Meeting Eric and Don Jr., and seeing their deep passion for Bitcoin and infrastructure, was the perfect catalyst.”According to Genoot, the goal is clear: to build one of the world’s largest and most efficient Bitcoin mining platforms, rooted in American soil and aligned with pro-Bitcoin sentiment growing under President Donald Trump’s administration.“Eric told me, ‘I don’t want to get involved in anything that isn’t the biggest and the best,’” he said.
Earlier this week, Bitcoin mining giant Hut 8 revealed a partnership that includes two members of the Trump family — Donald Jr.and Eric — and its plans to launch a new mining venture, American Bitcoin. In an exclusive interview on Decentralize with Cointelegraph’s Byte-Sized Insight series, Hut 8 CEO Asher Genoot shared new details about the venture’s vision, why the timing was right and how the company plans to scale.
If our cost basis isn’t low, we might as well just buy Bitcoin.”Related: Bitcoin miner Hut 8 argues to toss ‘short and distort’ shareholder suitMining and accumulating BTCAmerican Bitcoin’s structure allows it to mine BTC at low cost, accumulate more when the market allows, and potentially expand into other Bitcoin ecosystem services.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Savannah Fortis
The story "American Bitcoin’s ambition is to dominate mining — Hut 8 CEO" has 465 words across 21 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "American Bitcoin’s ambition is to dominate mining — Hut 8 CEO" was covered 1 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 13 news stories per day.
It's most recent story was published 11 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
