Hut 8 climbs after teaming up with Eric Trump for bitcoin mining

ReutersMar 31, 2025 11:49 AM

U.S.-listed shares of crypto miner Hut 8 HUT.O rise 6% to $12.42 premarket

HUT says it has teamed up with Eric Trump to form American Bitcoin with a focus on mining and building bitcoin reserves

Co says it merged the majority of its mining operations for an 80% stake in American Data Centers, backed by investors including Eric Trump and Donald Trump Jr., rebranded as American Bitcoin

In the longer run, American Bitcoin plans to be publicly listed to expand its access to capital

As of last close, HUT stock down 42.8% YTD

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