Shares of Hut 8 Corp. HUT, an energy infrastructure company that supports large-scale computing needs, including Bitcoin mining and high-performance computing, are trading higher in premarket on Monday.
The company has unveiled American Bitcoin Corp., a new subsidiary dedicated to large-scale Bitcoin mining and strategic reserve accumulation.
The development comes after Hut 8 contributed the majority of its ASIC miners in return for a dominant stake in a project supported by Eric Trump and Donald Trump Jr. The initiative was subsequently renamed American Bitcoin.
The newly launched company aims to become the world’s most efficient dedicated Bitcoin miner. As part of this shift, all Bitcoin mining activities previously managed under Hut 8’s Compute segment will now operate under the American Bitcoin name.
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Initially, American Bitcoin’s financial performance will be reflected within Hut 8’s consolidated reports.
Meanwhile, Hut 8 will continue as its sole infrastructure and operations partner, establishing long-term commercial agreements designed to ensure consistent revenue generation.
“From the start, we’ve backed our conviction in Bitcoin—personally and through our businesses,” said Donald Trump Jr.
“But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity. We’re excited to bring investors into that equation through a platform engineered to execute on this thesis and deliver real, tangible participation in Bitcoin’s growth.”
American Bitcoin aims to achieve a computing capacity exceeding 50 exahashes per second (EH/s) while keeping its fleet efficiency under 15 joules per terahash (J/TH), with a goal of becoming a publicly listed company.
The company’s leadership team will include Mike Ho as Executive Chairman, Matt Prusak as CEO, and Eric Trump as Chief Strategy Officer. The Board of Directors will feature Ho, Asher Genoot, Justin Mateen, and Michael Broukhim.
Under long-term agreements, Hut 8 will provide colocation services, operational management, and other support functions for American Bitcoin. The parent company will oversee daily operations through a shared services contract.
Price Action: HUT shares traded higher by 7.08% at $12.55 in premarket at last check Monday.
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