Trump Family to Launch US Bitcoin Mining Venture With Hut 8

[JohnSJ]

"The Trump family is set to launch a Bitcoin mining-focused venture with Hut 8 Corp., the latest expansion of the US president’s ties to the cryptocurrency sector.

Hut 8 is launching American Bitcoin Corp. as a majority-owned subsidiary, focused exclusively on Bitcoin mining and “strategic Bitcoin reserve development,” the Miami-based company said in a statement Monday.

During the presidential campaign, Donald Trump vowed to ensure that all remaining Bitcoin is “made in the USA” and to establish a Bitcoin reserve. Trump used to be a skeptic about digital assets but pivoted to embracing the sector on the campaign trail, in part as the industry ramped up its involvement in the election through sizable political donations.

The launch of the mining venture follows Hut 8’s acquisition of a majority interest in American Data Centers Inc., a company formed by a group of investors including Eric Trump and Donald Trump Jr. Following that transaction, American Data Centers has been renamed and relaunched as American Bitcoin Corp., Hut 8 said."


https://www.bloomberg.com/news/articles/2025-03-31/trump-family-to-launch-us-bitcoin-mining-venture-with-hut-8

[newdeal2]

1. One grift after another

Why not just start Trump Bank and have all of the MAGA idiots deposit their money directly in to that.

[JohnSJ]

2. I have a suspicion that it won't just be the Magas he will fleece. I think the average American taxpayer will be

with his hairbrained schemes.

[JCMach1]

3. The scam is to extort utilities (heavily regulated by gov)

To give them free, or almost free power which converts to BTC then Cash.

Teapot Dome looks quaint and demure compared to Trump's current scams.

[Passages]

4. Joseph Stiglitz

Bitcoin 'Ought to Be Outlawed,' Says Joseph Stiglitz
YouTube · Bloomberg Television
Nov 29, 2017

[Buns_of_Fire]

5. And once he orders Treasury to transfer a few hundred billion into the "reserve,"

the magic will be complete. After all, with the financial geniuses Dumb, Dumber, and Dumbest in charge, what could possibly go worng wrong?

[eppur_se_muova]

6. But Jimmy Carter had to sell his peanut business -- too big a conflict of interest !

GQP is never consistent, except in the worst possible ways.