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Trump sons back new Bitcoin mining venture with Hut 8

Coin Telegraph LogoCoin Telegraph1d ago

Trump sons back new Bitcoin mining venture with Hut 8 - Coin Telegraph

Quick Summary:

He said that by separating the mining business from the rest of the corporate activities and allowing it to raise its own capital and “align each segment of the business with its respective cost of capital.” He added:“It evolves Hut 8 toward more predictable, financeable, lower-cost-of-capital segments and establishes American Bitcoin as a pure-play mining platform built for exahash growth, Bitcoin production, and operating leverage.”The report follows Hut 8 surpassing $1 billion worth of Bitcoin holdings after acquiring 990 BTC for $100 million at the end of 2024.

The new venture “aims to become the world’s largest, most efficient pure-play Bitcoin miner while building a robust strategic Bitcoin reserve.” Mining operations will remain under Hut 8’s compute segment but will operate through the American Bitcoin brand.“Mining it on favorable economics opens an even bigger opportunity.

We’re excited to bring investors into that equation through a platform engineered to execute on this thesis and deliver real, tangible participation in Bitcoin’s growth.”Related: Hut 8 tips 66% hashrate boost after deal to buy 31K Bitcoin minersStrategic shift for Hut 8Hut 9 CEO Asher Genoot recognized the launch of American Bitcoin as a “pivotal evolution” in the firm‘s strategy.

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Article Details

Author / Journalist: Cointelegraph by Adrian Zmudzinski

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-31 @ 11:28:52 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 364 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27472946

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About Coin Telegraph

Coin Telegraph Logo

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 53 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

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