Bitcoin Mining Is Back In The News: Trump Family Launch ‘American Bitcoin’ Mining Venture

Thanks to the Trump family and leading Bitcoin mining firm MARA, mining is once again the talk of the town. Two of Donald Trump’s sons, Eric and Donald Jr., are venturing into Bitcoin mining with their ‘American Bitcoin’ venture, while MARA has announced plans to raise $2bn to increase its BTC holdings.

Marathon Digital Holdings (MARA) is the largest Bitcoin mining company in the world by market cap ($4.3bn) and also by the amount of Bitcoin held (46,374 BTC).

JUST IN: @Hut8Corp launches American Bitcoin, a new subsidiary focused on industrial-scale Bitcoin mining. The move aims for 50+ EH/s efficiency and involves partnering with Eric Trump. @Hut8Corp remains the key infrastructure partner, consolidating financials under its brand.… pic.twitter.com/bm2ZoN34N4

— Bitcoin Mining Stock (@miningstockinfo) March 31, 2025

Trump Brothers Merging With Mining Firm Hut 8 To Create ‘American Bitcoin’

Eric Trump and Donald Trump Jr. are merging their firm, American Data Centers, into a new mining venture called American Bitcoin. The brothers will take a 20% stake in the company, while Hut 8 will own the remaining 80%.

Hut 8 is a crypto infrastructure firm based in Canada. The company will contribute around 61,000 mining machines to the new American Bitcoin venture. According to the original report from the Wall Street Journal, no cash has changed hands in the deal.

Eric Trump will take the role of American Bitcoin’s chief strategy officer and has described the initiative as being aligned with the family’s focus on hard assets, likening digital currencies to real estate. He emphasized plans to build a “Bitcoin reserve” and potentially even publicize the company.

Currently, American Bitcoin is entirely separate from President Trump and his own crypto ventures. However, future collaborations may be with World Liberty Financial (WLFI), the DeFi project backed by the President, and Eric and Don Jr. are also involved.

Hut 8 will host the mining operations in its 11 US-based data centers. Its CEO, Asher Genoot, said low energy costs and scalable infrastructure will give American Bitcoin a competitive edge over the rest of the market.

The board of directors will include Tinder co-founder Justin Mateen and FabFitFun co-founder Michael Broukhim. Despite criticism over bitcoin mining’s environmental impact, Eric Trump believes lower U.S. energy costs will help American miners outpace its global competitors.

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MARA Announces $2bn Stock Offering To Buy More Bitcoin

BREAKING: PUBLIC MINING GIANT MARA TO SELL $2 BILLION WORTH OF STOCK TO BUY MORE #BITCOIN

HERE WRE GO pic.twitter.com/TTaB70UCeg

— The Bitcoin Historian (@pete_rizzo_) March 29, 2025

Leading Bitcoin miner MARA Holdings is going all in on BTC, again. This time, with a $2 billion war chest via a stock stock offering. The agreement will allow MARA to sell up to $2 billion worth of its stock “from time to time.”

Per official communication, the proceeds will be for “general corporate purposes, including the acquisition of Bitcoin and for working capital.”

MARA are the largest publicly traded Bitcoin mining company with a $4.31 billion market cap. The firm has completed a Form 8-K and prospectus filed with the US Securities and Exchange Commission (SEC) that it entered into an at-the-market (ATM) agreement with major financial firms, including Barclays Capital, BMO Capital Markets, BTIG, and Cantor Fitzgerald.

This latest stock offering highlights MARA’s intent to double down on a treasury strategy rapidly gaining popularity among corporates. With GameStop’s recent announcement of a $1.3 billion convertible note plan to buy BTC and Japan’s MetaPlanet continuous stacking of Bitcoin, it seems as though MARA want to maintain its position as the number two corporate Bitcoin holder.

It will take a lot to become number one, which is currently held by Michael Saylor’s software firm Strategy (formerly MicroStrategy). Over the past few years, Strategy has pivoted into aggressive Bitcoin accumulation.

Per CoinGecko, Strategy currently leads all public companies by a fair distance, with 506,137 BTC on its balance sheet. MARA is second, with 46,374 BTC, worth just over $3.8 billion at current prices. Riot Platforms are some way back in third with ‘only’ 18,692 BTC to its name.

(COINGECKO)

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