US President Donald Trump’s sons, Eric and Donald Trump Jr., have invested in a new Bitcoin mining venture called American Bitcoin. The company will be formed by joining forces with the existing Bitcoin mining company Hut 8. Under the terms of the deal, Hut 8 will control 80% of the new company, while American Data Centers, a business entity owned by the Trump sons, will hold 20%.
The Trump family’s entry into the crypto industry has raised concerns about conflicts of interest and the relaxed enforcement of regulatory policies during President Trump’s presidency. The family’s involvement in various crypto ventures has created controversy, including the launch of a stablecoin and memecoin.
Bitcoin mining is a highly energy-intensive process that has sparked criticism from environmental organizations due to its impact on climate change. The new venture aims to focus on running Bitcoin mining machines and establishing a large stockpile of the cryptocurrency.
Source: https://www.nytimes.com/2025/03/31/business/trump-bitcoin-mining.html