The sons of United States President Donald Trump, Donald Jr. and Eric, will merge their American Data Centers firm with a cryptocurrency mining company, American Bitcoin, aiming to create "the world’s largest miner of the digital currency," the Wall Street Journal reported on Monday. They will also take a 20% stake in American Bitcoin, while the company's majority owner Hut 8 will transfer almost 61,000 Bitcoin-mining machines to American Bitcoin and receive an 80% ownership in the resulting firm post-merger.
The Trumps also told the WSJ that the new entity intends to start a Bitcoin reserve. Eric Trump added their mining business could collaborate with the decentralized finance platform World Liberty Financial, which is backed by his father.
