According to a Foresight News report citing CoinDesk, broker Clear Street noted in its latest research report that Bitcoin mining company Hut 8 may spin off the subsidiary American Bitcoin Corp, which was established in collaboration with the Trump family, allowing the company to focus on data center hosting and consider acquiring hyperscale computing service provider Hyperscaler. The institution gave Hut 8 a "buy" rating with a target price of $23.
Eric Trump and Donald Trump Jr. are merging their company American Data Centers with the newly established mining enterprise American Bitcoin, holding 20% of the latter's shares. The remaining 80% will be owned by Hut 8, which will contribute nearly 61,000 mining machines to the new company.
