American Bitcoin Eyes Mining Dominance, Declares Hut 8 CEO
In an interview with CoinDesk, Hut 8 CEO Asher Genoot described the ambitious vision guiding American Bitcoin, a new U.S.-branded mining venture launched with the support of Donald Trump Jr. and Eric Trump.
A Strategic Split and Trump Alliance
Talking on Byte-Sized Insight podcast, Genoot said the timing was right to separate Hut 8’s mining operations from its overall infrastructure business. Having Eric and Don Jr. join it as a partnership provided it with the impetus it required.
“Having met Eric and Don Jr., and hearing how enthusiastic they were about Bitcoin and infrastructure, was the ideal catalyst,” Genoot said.
American Bitcoin’s mission? To be largest and lowest-cost mining operation in the U.S. — on behalf of escalating pro-Bitcoin policies on the watch of Trump’s proclivities.
Big, But Intelligent
As growth is foremost, Genoot added that being efficient and mining cheaply are non-negotiable.
“If our cost basis isn’t low, we might as well just purchase Bitcoin,” he stated.
With China out of the picture and U.S. policymakers embracing Bitcoin, the Bitcoin company sees an optimal time to seize leadership in the mining space.
Mining, Stacking, and Holding are the three functions of American Bitcoin. American Bitcoin will not just mine BTC — it will also stack and hold, akin to Hut 8 holding over 10,000 BTC on its balance sheet.
The company is also fending off criticism of energy use, noting that much of their energy comes from renewable sources, and that energy use is the hallmark of all great tech revolutions.
IPO Plans in View
Genoot affirmed that the endgame is to go public, with IPO plans to have the company listed on a U.S. exchange.
“Our ambition is to grow. Our ambition is to take this company public,” he stated.
Tune in as American Bitcoin seeks to transform U.S. mining — and maybe, the world crypto narrative.
