Hut 8 Corp. has unveiled American Bitcoin Corp., a new subsidiary focused on large-scale Bitcoin mining and strategic Bitcoin reserve development. The move comes after Hut 8 contributed most of its ASIC miners in exchange for an 80% stake in American Data Centers, Inc., a company backed by Eric Trump and Donald Trump Jr. The entity has now been renamed American Bitcoin.
With this change, Hut 8’s mining operations will now run under the American Bitcoin brand while remaining part of its will run under the Compute segment. Hut 8 will also be the exclusive infrastructure and operations partner for American Bitcoin through long-term agreements designed to generate stable revenue.
American Bitcoin aims to become the world’s largest and most efficient Bitcoin miner. Eric Trump, who will serve as Chief Strategy Officer, called the partnership a major step forward, saying that combining Hut 8’s operational expertise with a shared vision for Bitcoin’s future will drive substantial growth.
“But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity,” said Donald Trump Jr.
Hut 8 CEO Asher Genoot explained that spinning off the mining business into a separate entity allows each segment to operate with its own financial structure. This approach, he said, will drive growth, make capital allocation more efficient, and create two distinct yet complementary businesses—Hut 8 focusing on infrastructure and American Bitcoin dedicated to mining and building its Bitcoin reserves.
Hut 8 has contributed most of its ASIC miners to American Data Centers Inc. in exchange for an 80% stake, leading to its rebranding as American Bitcoin. The leadership team includes Mike Ho (Executive Chairman), Matt Prusak (CEO), and Eric Trump (Chief Strategy Officer). Its Board of Directors features Mike Ho, Asher Genoot, Justin Mateen, and Michael Broukhim. Hut 8 will exclusively handle ASIC colocation and management services for American Bitcoin through a shared services agreement.
The company has released a presentation with additional transaction details and will file a Form 8-K with the SEC. A conference call is scheduled for April 1, 2025, at 8:30 a.m. ET. Investors can join through Hut 8’s website and social media channels.
