The Canadian miner HUT 8 and a group of investors, led by the sons of US President Donald Trump Eric and Donald Jr., announced the launch of a new mining company called American Bitcoin. According to the press release, the project is focused exclusively on the production of bitcoin and the formation of the reserve of the first cryptocurrency, writes RBC Crypto.
First, investors, including Eric Trump and Donald Trump Jr., created the American Data Centers. They exchanged 80% of the shares of this company for almost all HUT 8 mining equipment. After this transaction, the American Data Centers was renamed the American Bitcoin. Hut 8 remains its exclusive operator according to separate long -term commercial agreements.
The American Bitcoin team includes the top managers of HUT 8 and third-party investors. Eric Trump became one of the project managers, he took the post of strategic director.
The report said that American Bitcoin seeks to become the largest in the world and the most effective miner of bitcoins and create their reserve – it will become a public company and increase hashrate up to 50 eh/s (Exachash per second). For comparison: the hashrate of the largest American miner Mara is 53.7 EH/S, according to the company on January 3.
Mara has a 16 date-centers and disposes of capacities of 1700 MW. Business HUT 8 covers 1020 MW at 15 objects in the USA and Canada.
According to the American Bitcoin plan, mining energy efficiency is planned to be brought to levels of less than 15 J/Th (Joule on Terahesh). The management states that this format will give investors the opportunity not only to buy bitcoin, but to participate in its prey with a “transparent business model and market economy”.
“Just buying bitcoin is only half the case. His production on favorable terms opens up much greater opportunities, ”said Donald Trump Jr.
Until that moment, mining remained one of the cryptocurrency spheres, which had not yet entered the Trump family. Previously, Trumps launched the World Libery Financial (WLF) crypto company and sold it to millions of dollars. In January, the US President and his wife Melania Trump released their memcoirs.
Last week, WLF announced the creation of Stablecoin USD1. And Trump Media (DJT) Media Companies made a partnership with one of the largest American crypto -streaks Crypto.com in order to launch exchange products under the Truth.fi brand.
Be in the know! Subscribe to Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
