Hut 8 is making a strategic shift, separating its mining business into a standalone entity - American Bitcoin. CEO Asher Genoot sees this as a pivotal evolution, allowing mining operations to raise independent capital and optimize costs. The move sharpens Hut 8’s focus on financeable, lower-cost segments while establishing American Bitcoin as a pure-play mining giant built for exahash growth and operational leverage.

The decision follows Hut 8 crossing the $1 billion mark in Bitcoin holdings after scooping up 990 BTC for $100 million. With Bitcoin mining revenue hitting $3.6 billion in Q1 2025, stability has returned post-halving, despite rising mining difficulty. Daily revenue per petahash per second hovers around $48, reinforcing the economics of scale for industry players.

Meanwhile, the Trump family is deepening its crypto playbook. President Trump’s recent pro-crypto stance includes pardoning three BitMEX co-founders and greenlighting the removal of Tornado Cash from the US Treasury’s sanction list. The SEC’s latest stance that memecoins aren’t securities only adds fuel to the fire, as Trump pushes forward with a national Bitcoin reserve strategy.

On the commercial front, Trump launched his own memecoin, TRUMP, while his Trump Technology Group partnered with Crypto.com to develop crypto ETFs. The family’s ventures don’t stop there - Donald Trump Jr. and Eric Trump are now backing American Bitcoin, aiming to turn it into the world’s largest, most efficient mining operation. American Bitcoin, formerly American Data Center, has acquired a majority stake in Hut 8’s mining operations, with a vision of building a dominant Bitcoin reserve alongside its mining ambitions.

With miners doubling down and political heavyweights making moves, the landscape is shifting. The lines between finance, power, and crypto are blurring fast, and the stakes have never been higher.