PANews reported on April 2nd that according to Bloomberg, American Bitcoin Corp, a joint venture between listed mining company Hut 8 and the Trump family investment group, plans to go public after seeking private placement financing. The joint venture was officially established this week, with investors including two sons of former US President Trump. Hut 8 CEO Asher Genoot stated in an interview: "In the long term, this will form two listed sister companies, one focusing on energy infrastructure and data centers, and the other concentrating on Bitcoin mining machines and reserves, together creating a vertically integrated top-tier business model." Hut 8 has transferred almost all mining equipment to the newly established American Bitcoin. While the new company specializes in Bitcoin mining, Hut 8 will focus on expanding data center business to support infrastructure for AI applications.
Eric Trump claimed in a Tuesday conference call: "We will build the world's strongest Bitcoin mining company, right here in the United States". Genoot revealed that the new entity will consider introducing private investment before going public. Notably, American Bitcoin is collaborating with mining machine manufacturer Bit, which will help them acquire the latest mining machine technology and expand operations with new equipment deployment. Eric Trump emphasized in the interview: "There is no conflict of interest because I have no working relationship with the White House, and I have always been in the private sector. We established World Financial Liberty long before my father entered the White House. This is a crypto venture we have long believed in."
