In a twist of fate that would make even the most jaded of capitalists chuckle, Hut 8, the Bitcoin miner, has decided to dance with the devil. A partnership with the Trump family? Forgive me while I roll my eyes into the next century. Hut 8 announced its “brilliant” idea to join forces with Eric Trump and Donald Trump Jr. to form American Bitcoin Corp.
Oh, the irony! American Bitcoin Corp., a subsidiary that will focus on industrial-scale Bitcoin mining. Because what better way to ensure the decentralization of finance than by partnering with one of the most centralized families in America?
And the plot thickens! In a move that can only be described as a masterstroke of capitalism, Hut 8 is giving its ASIC miners in exchange for a majority stake in American Data Centers, Inc. Which, by the way, has been renamed to American Bitcoin Corp. because, why not? It’s like putting lipstick on a pig, but with more Bitcoin.
So, all the Bitcoin mining activities that were once under Hut 8’s Compute segment will now be under the American Bitcoin brand. It’s like a bad joke that writes itself. And, of course, Hut 8 will be the exclusive infrastructure and operations partner. Because when you think of stable, contracted revenue streams, you think of the Trump family, right? 🙄
American Bitcoin aims to be the largest and most efficient Bitcoin miner. Because if there’s one thing the Trumps know, it’s how to make things… big. And this venture will also establish a strategic Bitcoin reserve. You know, just in case the next generation needs a digital fortress.
“By combining Hut 8’s proven operational excellence in data centers with our shared passion for Bitcoin and decentralized finance, we are poised to strengthen our foundation and drive significant future growth.”
Oh, and did I mention the stock price is up? Because nothing says success like a 5.45% increase in pre-market trading. Too bad it’s still down by 46% since the beginning of 2025. But hey, who’s counting?
Meanwhile, the Bitcoin mining industry is as volatile as a Trump tweet. Bitcoin miner reserves are declining, and the price is slipping. But don’t worry, Marathon Digital Holdings is here to save the day with a $2 billion stock offering. Because what could possibly go wrong?
Bitcoin price is under pressure, and the world is bracing for the Trump “Liberation Day.” I can’t wait to see how this unfolds. 🤡🌪️
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2025-03-31 15:53