Trump Sons Strike Crypto Gold: Mega Mining Stake Shakes Up US Bitcoin Scene!
Eric Trump and Donald Trump Jr., sons of U.S. President Donald Trump, have ventured into the world of cryptocurrency by investing in a bitcoin mining operation. According to a report published on Monday by The Wall Street Journal, this move signals their strategic shift towards digital asset infrastructure, placing them within a specific but rapidly growing segment of the global economy.
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.
In this agreement, as reported by The Wall Street Journal on Monday, Trump’s group will keep a 20% share, while Hut 8 Mining Corp. takes control of the remaining 80%. This operation, as stated in the report, currently operates around 61,000 specialized mining rigs known as ASICs.
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.
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2025-03-31 16:59