Trump-backed mining firm American Bitcoin plans to go public, possibly take private investment: report
Quick Take The long-term vision is for American Bitcoin to be “two sister publicly traded companies” combined under one vertically integrated firm, Hut 8 CEO Asher Genoot said on Bloomberg TV. One side will provide energy, data centers and infrastructure while the other handles the crypto elements.
American Bitcoin, the firm backed by Bitcoin miner Hut 8 and Trump-helmed data infrastructure company American Data Centers, plans to go public, according to Bloomberg.
The long-term vision is for American Bitcoin to be "two sister publicly traded companies" combined under one vertically integrated firm. One side will provide the energy and data center infrastructure while the other manages the crypto-focused elements including the Bitcoin mining equipment, Hut 8 CEO Asher Genoot said in an interview on Bloomberg TV Tuesday.
American Bitcoin might take private investment before going public, Bloomberg reported citing a conference call on Tuesday.
Hut 8, the publicly traded firm headquartered in Miami, announced it took an 80% stake in American Data Centers on Mar. 31, The Block previously reported. America Data Centers rebranded to American Bitcoin and became an independent firm focusing on Bitcoin mining and creating a strategic bitcoin reserve.
American Data Centers is led by Eric Trump and Donald Trump Jr., the two eldest sons of President Donald Trump. Eric stated in the same Bloomberg interview with Hut 8's Genoot that he does not work with the White House and that there is "virtually [no]" communication between him and his father.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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