The Trump family is deepening its footprint in the crypto industry. Eric Trump and Donald Trump Jr. have announced a new Bitcoin mining venture, American Bitcoin, created through a merger with Hut 8, a major mining firm. This marks their third significant crypto project in a year, further solidifying their shift from crypto skeptics to industry players.
Trump Sons Bet Big on Bitcoin Mining
Eric Trump and Donald Trump Jr. are investing in American Bitcoin, a company formed from a merger with Hut 8. The new entity will focus on Bitcoin mining, a high-stakes business that operates large-scale data centres to power the Bitcoin network.
Hut 8 will own 80% of the company, while the remaining 20% belongs to American Data Centers, a firm backed by the Trump sons. Eric Trump, named Chief Strategy Officer, will spearhead the venture’s expansion, reinforcing the family’s deepening involvement in crypto.
From Crypto Critics to Industry Players
Four years ago, Donald Trump dismissed Bitcoin as a “scam”. Now, the Trump family is at the centre of the industry, pushing World Liberty Financial (WLFI) and launching their own memecoins.
The shift is not just ideological but also financial. Trump has actively relaxed crypto regulations and even announced a U.S. government stockpile of Bitcoin. With American Bitcoin, his family is now involved in one of the most controversial sectors of crypto—mining.
The Environmental and Ethical Debate
Bitcoin mining has long been criticised for its high energy consumption and environmental impact. Large mining firms like Hut 8 operate massive data centres, consuming electricity on a scale that has sparked protests from environmentalists and local communities.
Beyond environmental concerns, the Trump family’s deep financial ties to crypto raise serious ethical questions. With Trump’s regulatory influence, critics argue that his family stands to profit directly from policy decisions affecting the industry.
Will American Bitcoin Deliver?
Eric Trump is set to unveil the venture’s strategy in a livestream, outlining how American Bitcoin will position itself in the mining industry. While Bitcoin mining remains highly profitable, competition is fierce, and the industry’s long-term sustainability is debated.
For now, the Trump family’s crypto ambitions show no signs of slowing down. Whether American Bitcoin becomes a powerhouse or another controversial gamble remains to be seen.
