Several members of US President Donald Trump’s family are backing a new venture to launch what aims to become the world’s largest Bitcoin mining firm.
Hut 8, a digital asset mining and infrastructure company, announced on March 31 that it is acquiring a majority stake in American Bitcoin, formerly known as American Data Center. The firm was founded by a group of investors, including Trump’s sons, Donald Trump Jr. and Eric Trump.
Related: Bitcoin miner Hut 8 argues to toss ‘short and distort’ shareholder suit
As part of the deal, American Bitcoin will take ownership of Hut 8’s Bitcoin (BTC) mining hardware. Donald Trump Jr. said that the entrepreneurs behind American Data Centers have backed their conviction in Bitcoin personally and through business.
The new venture “aims to become the world’s largest, most efficient pure-play Bitcoin miner while