Trump-backed mining firm American Bitcoin plans to go public, possibly take private investment: report

American Bitcoin, the firm backed by Bitcoin miner Hut 8 and Trump-helmed data infrastructure company American Data Centers, plans to go public, according to Bloomberg. The long-term vision is for American Bitcoin to be "two sister publicly traded companies" combined under one vertically integrated firm. One side will provide the energy and data center infrastructure while the other manages the crypto-focused elements including the Bitcoin mining equipment, Hut 8 CEO Asher Genoot said in an interview on Bloomberg TV Tuesday. American Bitcoin might take private investment before going public, Bloomberg reported citing a conference call on Tuesday. Hut 8, the publicly traded firm headquartered in Miami, announced it took an 80% stake in American Data Centers on Mar. 31, The Block previously reported. America Data Centers rebranded to American Bitcoin and became an independent firm focusing on Bitcoin mining and creating a strategic bitcoin reserve. American Data Centers is led by Eric Trump and Donald Trump Jr., the two eldest sons of President Donald Trump. Eric stated in the same Bloomberg interview with Hut 8's Genoot that he does not work with the White House and that there is "virtually [no]" communication between him and his father. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.