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| American Bitcoin |
American Bitcoin, a venture backed by Bitcoin mining company Hut 8 and American Data Centers, a data infrastructure company led by the Trump family, is planning to launch an Initial Coin Offering (ICO) as part of its bid to expand in the cryptocurrency market.
According to blockchain news outlet The Block, American Bitcoin aims to become a vertically integrated Bitcoin mining company in the long term. The company’s approach includes providing energy infrastructure, managing data centers, and operating Bitcoin mining equipment.
Asher Genoot, CEO of Hut 8, emphasized that American Bitcoin will operate on two key pillars: one focusing on energy and data center infrastructure, and the other handling the management of Bitcoin mining equipment.
Bloomberg reports that American Bitcoin is also exploring the possibility of raising private investment before its ICO. Hut 8 has already acquired an 80% stake in American Data Centers, which has now been rebranded as American Bitcoin. The company is transitioning into an independent Bitcoin mining and strategic Bitcoin holding firm.
Led by Eric Trump and Donald Trump Jr., the sons of former U.S. President Donald Trump, this project represents a significant move into the cryptocurrency space.