Donald Trump's eldest son further deepened his relationship with the early crypto sector in his quest for Bitcoin mining.
Wall Street Journal Expo We've checked out a recent venture by the Donald Trump family. Specifically, the company was involved with the eldest sons of the US president, Donald Trump Jr. and Eric Trump.
The two brothers will be investing in American Bitcoin, a Miami-based energy infrastructure and crypto miner, HUT8, which focuses on mining Bitcoin, the largest cryptocurrency by market capitalization.
Trump's son launches a new business entity
In February, Eric and Donald Trump Jr. rebranded small investment company Dominali into an American data center after Enterprise announced that the duo would join the advisory board. A month later, the newly launched company is working with HUT8, one of the nation's largest North American-based miners.
On Monday, WSJ reported that two companies had set up Alliance and rebranded the American Data Center as America Bitcoin. HUT8 retained 80% of the new company, and Trump's sons settled at 20%.
Meanwhile, the new Enterprise aims to mine Bitcoin using over 61,000 machines sourced from HUT8, making it a sectoral powerhouse. Unlike most miners, however, the company focuses on creating new batches of premier assets for strategic preparation.
In particular, the president's sons revealed that miners operate as separate entities from the Trump organization, an empire built by real estate moguls. Furthermore, US Bitcoin is unrelated to President Trump's recent executive order signature Create a Bitcoin stockpile in the US.
The Trump family expands the scope of the code
Since adopting a friendly stance towards Bitcoin and cryptocurrency, Trump and his family have mercilessly increased their exposure to the industry. First, the president has pledged to make America the world's crypto capital and has raised funds and support from the sector.
Additionally, Trump and his sons have launched World Liberty Financial (WLFI)a decentralized financial company that vows to disrupt the traditional banking system. Meanwhile, the family recently announced plans launch Crypto Exchange Transaction Fund (ETF) and Issuing Stablecoins.
Donald Trump Jr. has repeatedly made unwavering support for his family's industry. He's only half the story while buying bitcoin, but mining the best assets opens up more opportunities for businesses and Americans.
Eric Trump serves as Chief Strategy Officer for Bitcoin in America, with former HUT8 chief commercial officer Matt Prusak becoming CEO. Additionally, he revealed that the miner is going to release it future.
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