Eric Trump is launching a new Bitcoin mining company, but insists he barely talks crypto with his dad, Donald Trump. This comes despite the Trump administration’s increasing focus on digital assets and the Trump family’s various crypto-related ventures.
A New Bitcoin Mining Company
Eric and Donald Trump Jr. are teaming up with Hut 8 Corp to create American Bitcoin Corp. This company will focus on Bitcoin mining and building a significant Bitcoin reserve. Eric will be the Chief Strategy Officer, working with Hut 8 CEO Asher Genoot. Hut 8 will contribute its mining equipment in exchange for an 80% stake in the new company, leaving the Trumps with 20%. The exact breakdown of the Trump family’s 20% ownership hasn’t been revealed yet. The goal is to become a major player in Bitcoin mining and holding, aiming to mine Bitcoin more cheaply than simply buying it.
Addressing Conflict of Interest Concerns
Eric Trump strongly denied any conflict of interest between his new venture and his father’s past administration. He claims there’s almost no communication about crypto between them. He argues that his father’s support for crypto stemmed from his opposition to heavy regulation, similar to the regulatory scrutiny faced by the Trump family. He dismissed criticism that the administration’s actions enriched the family, comparing it to the idea that lower gas prices enrich them because they use gas-powered lawnmowers. He emphasized the global growth of the crypto industry.
The Trump Family’s Crypto Involvement
Beyond American Bitcoin Corp., the Trump family has other crypto-related projects. Eric mentioned World Liberty Financial, which uses governance tokens and invests in cryptocurrencies. President Trump himself has publicly supported stablecoin legislation and attended crypto events. Despite this, Eric maintains there’s minimal communication with the White House about his crypto ventures, stating that their involvement started long before his father’s presidency. He views their political experience as beneficial in navigating the crypto world.
The Bottom Line
Eric Trump is bullish on Bitcoin, calling it “digital gold” and highlighting its growing global adoption. American Bitcoin Corp. aims to be a major force in the industry, combining Hut 8’s expertise with the Trump family’s vision. While the family’s extensive crypto involvement raises eyebrows, Eric insists there’s little to no overlap between his business dealings and his father’s political actions. At the time of this writing, Bitcoin was trading at $84,097.
