Hut 8 Corp. (Nasdaq | TSX: HUT) has formally launched American Bitcoin, a standalone mining company that will take over the firm’s industrial-scale Bitcoin mining operations and pursue the creation of a strategic Bitcoin reserve.
The new entity is a rebranding of American Data Centers, Inc., a firm formed by investors including Eric Trump and Donald Trump Jr. Hut 8 contributed the majority of its ASIC mining fleet in exchange for an 80% stake in the new company.
According to the filing, American Bitcoin will operate as a separate entity while continuing to report under Hut 8’s financials in the near term. All previously reported mining operations under Hut 8’s Compute segment will now fall under the American Bitcoin name.
The company says it is targeting over 50 EH/s in hashrate with an average energy efficiency of under 15 J/TH, positioning itself among the largest pure-play Bitcoin miners globally. It also plans to build a strategic Bitcoin reserve, reflecting recent federal-level interest in similar policies.
The leadership team includes:
- Mike Ho (Executive Chairman)
- Matt Prusak (CEO)
- Eric Trump (Chief Strategy Officer)
American Bitcoin’s Board of Directors includes Asher Genoot, Justin Mateen, and Michael Broukhim.
Hut 8 will remain closely involved, providing infrastructure, operations, and management support under long-term agreements. These arrangements include ASIC colocation, service provisioning, and shared administration.
The announcement follows increased political momentum around Bitcoin in the U.S., including President Donald Trump’s executive order earlier this month to establish a Strategic Bitcoin Reserve at the federal level.
Eric Trump said in a statement that the new company intends to support the broader shift toward decentralized financial systems. Donald Trump Jr. added that mining offers more direct participation in Bitcoin’s upside beyond accumulation.
Hut 8 CEO Asher Genoot described the transaction as a strategic separation that allows each business unit to operate with a more tailored capital structure.
The development adds to the growing list of politically connected initiatives entering the Bitcoin mining sector as the 2025 election cycle puts digital assets in the spotlight.
