American Bitcoin: the sons' mining venture goes public as the government promotes bitcoin

Eric Trump and Don Jr. co-founded American Bitcoin in March 2025 - the plan hatched over pizza at a Trump golf club in Jupiter with Hut 8 CEO Asher Genoot - pairing the sons' American Data Centers entity with Hut 8's existing mining infrastructure. The company listed via merger in September 2025 and was worth nearly $8.5 billion at its Sept. 9 peak (Hut 8 itself ~$3 billion), generating $64 million in Q3 2025 revenue.

The venture launched squarely into - and benefited from - the administration's push to make America a 'Bitcoin superpower': the Strategic Bitcoin Reserve (CRY-11), framed by Republicans as competition with Russia and China, and the broader deregulatory sweep. Michael Saylor (a friend of Eric's) even pitched mortgaging Mar-a-Lago to buy more bitcoin. The family made at least $1 billion pretax across crypto ventures sharing American Bitcoin's playbook of 'savvy partners and complicated transactions.'

American Bitcoin joined Trump Media as a publicly traded Trump-linked company riding an asset class the president's own policies elevate - the mining leg of the family's crypto empire, aligned with the administration's Americanize-key-industries agenda.

Documented

Legal but conflicted

~$8.5B peak valuation (Sept 9, 2025); Hut 8 ~$3B; $64M Q3 2025 revenue

Founded 2025-03 (talks Feb 2025); listed via merger Sept 2025