Thanks to the Trump family and leading Bitcoin mining firm MARA, mining is once again capturing attention. Eric Trump and Donald Trump Jr. are diving into Bitcoin mining with their new venture, called American Bitcoin. Meanwhile, MARA aims to raise $2 billion to expand its Bitcoin holdings.
Marathon Digital Holdings (MARA) is recognized as the largest Bitcoin mining company globally by market cap ($4.3 billion) and the volume of Bitcoin under its control (46,374 BTC).
JUST IN: 🔔 Hut8Corp has launched American Bitcoin, aimed at achieving industrial-scale Bitcoin mining efficiency of over 50 EH/s in collaboration with Eric Trump.
Trump Brothers Merging With Mining Firm Hut 8 To Create ‘American Bitcoin’
Eric Trump and Donald Trump Jr. are integrating their company, American Data Centers, into a new mining initiative branded as American Bitcoin. The brothers will acquire a 20% equity stake, while Hut 8 will own the remaining 80%.
Hut 8 is a Canadian crypto infrastructure company, contributing approximately 61,000 mining machines to this new venture. According to reports, no financial transaction has occurred in this deal.
Eric Trump will occupy the role of Chief Strategy Officer for American Bitcoin and has portrayed the project as aligned with his family’s focus on hard assets, expressing a desire to establish a ‘Bitcoin reserve’ and possibly promote the company to the public.
Presently, American Bitcoin operates independently from President Trump and his associated crypto endeavors. Future collaborations may emerge with World Liberty Financial (WLFI), a DeFi project supported by the President himself, in which both Eric and Donald Jr. are also engaged.
Hut 8 will handle the mining operations out of its 11 data centers across the US. Asher Genoot, CEO, remarked that lower energy costs and scalable structures will give American Bitcoin a competitive edge.
The board will also include Tinder co-founder Justin Mateen and FabFitFun co-founder Michael Broukhim. Despite concerns regarding Bitcoin mining’s environmental effects, Eric Trump maintains that the decreased energy costs in the US should enable American miners to surpass their international competitors.
MARA Announces $2bn Stock Offering To Buy More Bitcoin
BREAKING: MAJOR PUBLIC MINING FIRM MARA TO RELEASE $2 BILLION WORTH OF STOCK TO INCREASE #BITCOIN HOLDINGS
Global leading Bitcoin miner MARA Holdings is making a significant push for Bitcoin, with a new $2 billion stock offering. This move is intended to bolster its corporate capabilities, including Bitcoin acquisition and operational capital.
As the largest public Bitcoin miner, MARA has completed filings with the US Securities and Exchange Commission (SEC) to facilitate this transaction, in partnership with major financial entities.
This stock offering is indicative of MARA’s strategy to rapidly expand its treasury position in a way that is becoming increasingly popular among corporations. As companies like GameStop announce plans to acquire Bitcoin, MARA aims to secure its place as the second-largest corporate holder of Bitcoin.
To ascend to the top position, currently held by Strategy, the software company known for its aggressive Bitcoin purchasing strategies, MARA has significant ground to cover.
Per CoinGecko’s current analytics, Strategy leads all public companies with a staggering 506,137 BTC. Following closely, MARA holds 46,374 BTC valued over $3.8 billion at today’s prices, while Riot Platforms follow with a comparative 18,692 BTC.
