American Bitcoin, a crypto mining company backed by the Trump family, plans to go public and seek more private equity financing

PANews reported on April 2 that according to Bloomberg, American Bitcoin Corp, a crypto mining company jointly established by listed mining company Hut 8 and Trump's family investment group, plans to start its listing after seeking private equity financing. The joint venture was officially launched this week, with investors including two sons of former U.S. President Donald Trump. "In the long run, this will form two listed sister companies, one focusing on energy infrastructure and data centers, and the other focusing on Bitcoin mining machines and reserves, forming a top-level business model of vertical integration," Hut 8 CEO Asher Genoot said in an interview. "In the long run, this will form two listed sister companies, one focusing on energy infrastructure and data centers, and the other focusing on Bitcoin mining machines and reserves, together forming a top-level business model of vertical integration." Hut 8 has transferred almost all mining machines and equipment to the newly established American Bitcoin. Although the new company specializes in Bitcoin mining, Hut 8 will focus on expanding its data center business to support infrastructure construction for artificial intelligence applications.

"We will build the world's strongest Bitcoin mining company, which will be realized in the United States," Eric Trump announced in a conference call on Tuesday. Genoot revealed that the new entity will consider introducing private equity investment before going public. It is worth noting that American Bitcoin is working with mining machine manufacturer Bitmain, which will help it acquire the latest mining machine technology and expand its operating scale in the future with the deployment of new equipment. Eric Trump emphasized in the interview: "There is no conflict of interest because I have no working relationship with the White House, and I am always in the private sector. We founded World Financial Liberty long before my father entered the White House. This is the crypto cause we have long believed in."