Hut 8 and Eric Trump Launch American Bitcoin to Set a New Standard in Bitcoin Mining
Hut 8 Corp. (Nasdaq | TSX: HUT) has announced the launch of American Bitcoin Corp., a majority-owned subsidiary focused on industrial-scale Bitcoin mining and strategic Bitcoin reserve development. The initiative follows Hut 8's contribution of its ASIC miners to American Data Centers, Inc., formed by investors including Eric Trump and Donald Trump Jr., which was subsequently renamed to American Bitcoin.
Hut 8 will maintain an 80% ownership stake and serve as the exclusive infrastructure and operations partner. The new entity aims to achieve 50+ EH/s at average fleet efficiency of <15 J/TH with plans to become publicly listed. The leadership team includes Mike Ho as Executive Chairman, Matt Prusak as CEO, and Eric Trump as Chief Strategy Officer.
The strategic move separates Hut 8's mining operations into a standalone entity while maintaining Bitcoin mining operations under its Compute segment through the American Bitcoin brand. The company will consolidate American Bitcoin's results within its financial statements.
Hut 8 Corp. (Nasdaq | TSX: HUT) ha annunciato il lancio di American Bitcoin Corp., una sussidiaria a maggioranza controllata focalizzata sull'estrazione di Bitcoin su scala industriale e sullo sviluppo di riserve strategiche di Bitcoin. L'iniziativa segue il contributo di Hut 8 dei suoi miner ASIC ad American Data Centers, Inc., formata da investitori tra cui Eric Trump e Donald Trump Jr., che è stata successivamente rinominata in American Bitcoin.
Hut 8 manterrà una partecipazione dell'80% e fungerà da partner esclusivo per le infrastrutture e le operazioni. La nuova entità mira a raggiungere oltre 50 EH/s con un'efficienza media della flotta inferiore a 15 J/TH, con piani per diventare quotata pubblicamente. Il team di leadership include Mike Ho come Presidente Esecutivo, Matt Prusak come CEO e Eric Trump come Chief Strategy Officer.
Questo movimento strategico separa le operazioni di mining di Hut 8 in un'entità autonoma, mantenendo al contempo le operazioni di mining di Bitcoin sotto il suo segmento Compute attraverso il marchio American Bitcoin. L'azienda consoliderà i risultati di American Bitcoin all'interno dei suoi bilanci finanziari.
Hut 8 Corp. (Nasdaq | TSX: HUT) ha anunciado el lanzamiento de American Bitcoin Corp., una subsidiaria de mayoría enfocada en la minería de Bitcoin a gran escala y el desarrollo de reservas estratégicas de Bitcoin. La iniciativa sigue a la contribución de Hut 8 de sus mineros ASIC a American Data Centers, Inc., formada por inversores como Eric Trump y Donald Trump Jr., que posteriormente fue renombrada como American Bitcoin.
Hut 8 mantendrá una participación del 80% y actuará como el socio exclusivo en infraestructura y operaciones. La nueva entidad tiene como objetivo alcanzar más de 50 EH/s con una eficiencia promedio de flota de menos de 15 J/TH, con planes de convertirse en una empresa pública. El equipo directivo incluye a Mike Ho como Presidente Ejecutivo, Matt Prusak como CEO y Eric Trump como Director de Estrategia.
Este movimiento estratégico separa las operaciones de minería de Hut 8 en una entidad independiente, mientras mantiene las operaciones de minería de Bitcoin bajo su segmento Compute a través de la marca American Bitcoin. La empresa consolidará los resultados de American Bitcoin dentro de sus estados financieros.
Hut 8 Corp. (Nasdaq | TSX: HUT)는 산업 규모의 비트코인 채굴 및 전략적 비트코인 준비금 개발에 중점을 둔 대다수 소유 자회사 American Bitcoin Corp.의 출범을 발표했습니다. 이 이니셔티브는 Hut 8이 Eric Trump와 Donald Trump Jr.를 포함한 투자자들에 의해 설립된 American Data Centers, Inc.에 ASIC 채굴기를 기부한 이후 이루어졌으며, 이후 American Bitcoin으로 이름이 변경되었습니다.
Hut 8은 80%의 지분을 유지하고 독점적인 인프라 및 운영 파트너로 활동할 것입니다. 새로운 법인은 평균 플릿 효율성 15 J/TH 미만으로 50 EH/s 이상의 목표를 가지고 있으며, 공개 상장될 계획입니다. 리더십 팀에는 Mike Ho가 CEO, Matt Prusak이 CEO, Eric Trump이 전략 책임자로 포함되어 있습니다.
이 전략적 움직임은 Hut 8의 채굴 작업을 독립적인 법인으로 분리하면서 American Bitcoin 브랜드를 통해 Compute 부문 아래에서 비트코인 채굴 작업을 유지합니다. 회사는 American Bitcoin의 결과를 재무제표에 통합할 것입니다.
Hut 8 Corp. (Nasdaq | TSX: HUT) a annoncé le lancement de American Bitcoin Corp., une filiale à majorité contrôlée axée sur l'exploitation minière de Bitcoin à grande échelle et le développement de réserves stratégiques de Bitcoin. Cette initiative fait suite à la contribution de Hut 8 de ses mineurs ASIC à American Data Centers, Inc., formée par des investisseurs, dont Eric Trump et Donald Trump Jr., qui a ensuite été renommée American Bitcoin.
Hut 8 maintiendra une participation de 80 % et agira en tant que partenaire exclusif pour l'infrastructure et les opérations. La nouvelle entité vise à atteindre plus de 50 EH/s avec une efficacité moyenne de flotte de moins de 15 J/TH, avec des projets de devenir cotée en bourse. L'équipe de direction comprend Mike Ho en tant que Président Exécutif, Matt Prusak en tant que PDG et Eric Trump en tant que Directeur de la Stratégie.
Ce mouvement stratégique sépare les opérations de minage de Hut 8 en une entité autonome tout en maintenant les opérations de minage de Bitcoin sous son segment Compute à travers la marque American Bitcoin. L'entreprise consolidera les résultats d'American Bitcoin dans ses états financiers.
Hut 8 Corp. (Nasdaq | TSX: HUT) hat die Gründung von American Bitcoin Corp. angekündigt, einer mehrheitlich kontrollierten Tochtergesellschaft, die sich auf die industrielle Bitcoin-Mining und die Entwicklung strategischer Bitcoin-Reserven konzentriert. Diese Initiative folgt auf den Beitrag von Hut 8 seiner ASIC-Miner an American Data Centers, Inc., die von Investoren wie Eric Trump und Donald Trump Jr. gegründet wurde und anschließend in American Bitcoin umbenannt wurde.
Hut 8 wird eine Beteiligung von 80 % halten und als exklusiver Infrastruktur- und Betriebspartner fungieren. Die neue Einheit hat das Ziel, über 50 EH/s bei einer durchschnittlichen Flotteneffizienz von unter 15 J/TH zu erreichen, mit dem Plan, an die Börse zu gehen. Das Führungsteam umfasst Mike Ho als Executive Chairman, Matt Prusak als CEO und Eric Trump als Chief Strategy Officer.
Dieser strategische Schritt trennt die Mining-Operationen von Hut 8 in eine eigenständige Einheit, während die Bitcoin-Mining-Operationen unter dem Compute-Segment über die Marke American Bitcoin aufrechterhalten werden. Das Unternehmen wird die Ergebnisse von American Bitcoin in seine Finanzberichte konsolidieren.
- Hut 8 maintains 80% ownership stake in new venture
- Creation of standalone entity allows for separate capital raising
- Establishment of stable, contracted revenue streams through service agreements
- Strategic move towards more predictable, financeable business segments
- Additional operational complexity from new corporate structure
- Potential dilution of mining operations focus across multiple entities
Insights
Hut 8's creation of the American Bitcoin subsidiary represents a significant strategic restructuring that fundamentally changes the company's operational model and capital structure. By contributing its ASIC miners to this new entity in exchange for an 80% ownership stake, Hut 8 is effectively separating its capital-intensive mining operations from its infrastructure business.
This transaction creates a clearer delineation between business segments with different risk profiles and capital requirements. Hut 8 will now generate contracted revenue streams through exclusive infrastructure and operations partnership agreements with American Bitcoin, potentially providing more stable and predictable cash flows for its Power and Digital Infrastructure segments.
The strategic rationale appears to address a common challenge in the Bitcoin mining sector: balancing the volatile, capital-intensive nature of mining operations with the need for reliable infrastructure. By creating a dedicated mining entity that can raise its own capital separately, Hut 8 can potentially optimize its capital structure while maintaining significant exposure to Bitcoin appreciation through its majority stake.
From a financing perspective, this restructuring could make Hut 8 more attractive to infrastructure investors seeking predictable returns while positioning American Bitcoin to appeal to investors with higher risk tolerance and belief in Bitcoin's long-term value. However, investors should carefully consider the execution risks inherent in such corporate restructurings and the lack of specific financial projections in this announcement.
This transaction positions American Bitcoin with ambitious goals to become the "world's largest, most efficient pure-play miner" with a technical roadmap targeting 50+ EH/s at an average fleet efficiency of <15 J/TH. These metrics would represent exceptional scale and efficiency in the mining sector if achieved.
The strategic decision to separate mining operations from infrastructure reflects an emerging trend in the Bitcoin mining ecosystem where specialized businesses focus on their core competencies. Hut 8 retains significant exposure to Bitcoin through majority ownership while shifting toward a more stable infrastructure business model that supports mining operations.
The involvement of the Trump family brings high-profile attention to the venture, potentially attracting new investor interest, but also introduces the possibility of political polarization affecting investor sentiment. More substantively, the partnership combines Hut 8's operational expertise with additional capital formation capabilities.
American Bitcoin's stated focus on "strategic Bitcoin reserve development" suggests a treasury strategy of retaining mined Bitcoin rather than immediate liquidation. This hodl-focused approach aligns with the view of Bitcoin as a long-term store of value but can increase correlation between company performance and Bitcoin price movements.
Investors should watch for details on how American Bitcoin will fund its ambitious expansion plans, whether through equity raises, debt financing, or other means, as these capital decisions will significantly impact potential returns and dilution for Hut 8 shareholders.
American Bitcoin Highlights
- American Bitcoin aims to become the world’s largest, most efficient pure-play miner while building a robust strategic Bitcoin reserve
- Path to 50+ EH/s at average fleet efficiency of <15 J/TH with goal of becoming a publicly listed company
MIAMI, March 31, 2025 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today announced the launch of American Bitcoin Corp. (“American Bitcoin”), a majority-owned subsidiary of Hut 8 focused exclusively on industrial-scale Bitcoin mining and strategic Bitcoin reserve development. The launch of American Bitcoin follows the strategic contribution of substantially all of Hut 8’s ASIC miners to and in exchange for a majority interest in American Data Centers, Inc., a company formed by a group of investors including Eric Trump and Donald Trump Jr. In connection with the transaction, American Data Centers, Inc. was subsequently renamed and relaunched as American Bitcoin.
Going forward, all Bitcoin mining operations previously reported under Hut 8’s Compute segment will remain under its Compute segment but operate through the American Bitcoin brand. Initially, American Bitcoin’s results will be consolidated within the Company’s financial statements for reporting purposes. Hut 8 will serve as American Bitcoin’s exclusive infrastructure and operations partner through a series of long-term commercial agreements that will generate stable, contracted revenue streams in Hut 8’s Power and Digital Infrastructure segments.
American Bitcoin aims to become the world’s largest, most efficient pure-play Bitcoin miner while building a robust strategic Bitcoin reserve. The transaction combines Hut 8’s proven mining operations, cost-efficient infrastructure development capabilities, and disciplined approach to capital allocation with Eric Trump’s commercial acumen, capital markets expertise, and commitment to the advancement of decentralized financial systems.
“It is a great honor to partner with Hut 8, a recognized leader in the Bitcoin space, as we launch American Bitcoin,” said Eric Trump, Co-founder of American Bitcoin. “By combining Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance, we are poised to strengthen our foundation and drive significant future growth.”
"From the start, we’ve backed our conviction in Bitcoin—personally and through our businesses," said Donald Trump Jr. "But simply buying Bitcoin is only half the story. 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."
“The launch of American Bitcoin marks a pivotal evolution in our platform strategy,” said Asher Genoot, CEO of Hut 8. “By carving out our mining business into a standalone entity, which will raise its own capital, we align each segment of the business with its respective cost of capital. The transaction creates two focused yet complementary businesses, each purpose-built for its respective mandate. 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.”
Key Terms
- Transaction Structure: Hut 8 contributed the majority of its wholly owned ASIC miners to American Data Centers Inc. in exchange for
80% of the company (the "Transaction"). Upon completion of the Transaction, American Data Centers Inc. was renamed and relaunched as American Bitcoin. - Leadership Team: American Bitcoin’s initial leadership team will consist of three members: Mike Ho, Executive Chairman; Matt Prusak, Chief Executive Officer; and Eric Trump, Chief Strategy Officer.
- Board of Directors: American Bitcoin’s Board of Directors will initially consist of four members: Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim.
- Select Commercial Agreements: Hut 8 will be the exclusive provider of ASIC colocation services and managed services to American Bitcoin. Hut 8 will also provide day-to-day management services to American Bitcoin through a shared services agreement.
Additional Transaction Information
The Company has made available on its website a presentation with additional information concerning the transaction. Additional information is available in the Form 8-K that the Company will file with the Securities and Exchange Commission.
Conference Call
The Company will host a conference call on Tuesday, April 1, 2025 at 8:30 a.m. ET to discuss the transaction. Join the live webcast here. Analysts can register here.
Supplemental Materials and Upcoming Communications
For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company's website, https://hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.
About Hut 8
Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Corp.
About American Data Centers
American Data Centers seeks to address the growing demand for high-performance computing infrastructure by building a robust portfolio of cutting-edge, energy-efficient data centers to be strategically located in key markets across the United States.
Cautionary Note Regarding Forward–Looking Information
This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to American Bitcoin’s goal of becoming the world’s largest, most efficient pure-play miner, its ability to build a strategic Bitcoin reserve, its path to increased hashrate and improved fleet efficiency, its goal of becoming a publicly listed company, and the expected resulting revenue to be generated by Hut 8.
Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company’s filings with the U.S. Securities and Exchange Commission. In particular, see the Company’s recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company’s EDGAR profile at www.sec.gov and SEDAR+ profile at www.sedarplus.ca.
Hut 8 Corp. Investor Relations
Sue Ennis
ir@hut8.com
Hut 8 Corp. Media Relations
media@hut8.com
FAQ
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