Trump Sons Take 20% Stake in US Mining Venture With 61,000 ASIC Rigs
Mining
Jamie Redman
Trump Sons Take 20% Stake in US Mining Venture With 61,000 ASIC Rigs and Big Ambitions
Eric Trump and Donald Trump Jr., progeny of U.S. President Donald Trump, have embarked on a financial foray into the realm of cryptocurrency, channeling capital into a bitcoin mining operation, The Wall Street Journal reported in a Monday dispatch. The article details the duo’s strategic pivot toward digital asset infrastructure, positioning them within a niche yet rapidly evolving sector of the global economy.
Trump Sons Take 20% Stake in US Mining Venture With 61,000 ASIC Rigs and Big Ambitions
Hut 8 to Steer 80% of Trump-Linked Bitcoin Miner Amid Broader Crypto Expansion
Donald Trump Jr. and Eric Trump, the elder scions of President Donald Trump, are reportedly channeling capital into American Bitcoin, a cryptocurrency mining venture, as disclosed by a recent exposé. The enterprise, predominantly held by Hut 8 Mining Corp., marks the latest addition to the Trump dynasty’s burgeoning array of digital currency endeavors.
The news follows Trump Media and Technology Group Corp. (TMTG) revealing ambitions to forge a strategic alliance with Crypto.com, with the goal of debuting a collection of exchange-traded funds (ETFs) and separately managed accounts (SMAs) before the year’s end. American Bitcoin, in the maneuver entwined with the Trump lineage, will combine forces with the family’s American Data Centers enterprise under the terms of the agreement.
The Trump contingent will retain a minority 20% ownership, while Hut 8 Mining Corp. will oversee the remaining 80% stake, according to the arrangement detailed in The Wall Street Journal’s Monday report. The publication highlights that the operation currently maintains a fleet of approximately 61,000 application-specific integrated circuit (ASIC) mining rigs.
This development further aligns with Eric Trump’s recent appointment to Metaplanet’s strategic advisory board and a Trump Media-linked SPAC—tasked with advancing cryptocurrency and dual-use technology ventures—spearheaded by the firm’s executives. Since his bid for office and subsequent victory in the 2024 election, Trump has vowed to strengthen the crypto ecosystem, and his family’s enterprise has shown unwavering determination in advancing within the industry.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings