The Trump Family Advances Its All-Out Crypto Blitz, This Time With Bitcoin Mining
A business led by two of the president’s sons will invest in American Bitcoin, a new mining company controlled by Hut 8
“… Eric Trump and Donald Trump Jr.’s American Data Centers will merge with and take a 20% stake in American Bitcoin, a mining operation majority-owned by
Hut 8 HUT 1.61%increase; green up pointing triangle, the publicly traded crypto-infrastructure company. Together, they aim to create the world’s largest miner of the digital currency, with designs on building its own “bitcoin reserve.”
In a matter of months, the Trumps started a decentralized-finance, or DeFi, project called World Liberty Financial, said their social-media company would invest in bitcoin and other digital assets, launched
meme coins to capitalize on the popularity of the president and his wife and announced plans to issue a World Liberty
dollar-backed stablecoin. And in his return to the White House, President Trumphas said he aims to make the U.S. the “crypto capital of the world.”
The digital networks that comprise the cryptocurrency markets have offered the Trumps an ideal complement to their other family business: real estate, Eric Trump told The Wall Street Journal. …”