Hut 8 stock sees strong gains post Trump-backed American Bitcoin venture

Investing.comApr 1, 2025 8:14 PM

View all comments（0）



Investing.com -- Hut 8 Corp (NASDAQ:HUT) shares gained 12% on Tuesday, one day after the company and Eric Trump announced plans to launch a pure-play bitcoin mining company named American Bitcoin.

Hut 8 transferred the majority of its ASIC miners to American Data Centers, Inc., which was then renamed American Bitcoin, with investors including Eric Trump and Donald Trump Jr.

American Data Centers was created in February 2025 by Eric Trump, Donald Trump Jr., and Dominari (DOMH).

American Bitcoin, 80% owned by Hut 8, will run all Bitcoin mining operations previously under Hut 8’s Compute segment, and its results will be initially consolidated in Hut 8’s financial statements. Hut 8 will also provide exclusive infrastructure and operations support to American Bitcoin, creating stable revenue streams for Hut 8’s Power and Digital Infrastructure segments.

Commenting today on Fox Business, Eric Trump called Bitcoin “one of the greatest stores of value, immediately liquid, and an unbelievable hedge against real estate."

The president’s son discussed being de-banked by Capital One (NYSE:COF) as one of the reasons he fell in love with crypto. “Financial institutions controlled by very few at the top were able to do to people that they didn't like,” Eric Trump commented. “Even families like ours that had a lot of zeros at the end of their balance sheet.”

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

SK Hynix Surges Over 4% as Q3 Results Hit Record High, Returning $75 Billion to Shareholders

SK Hynix reported a record-breaking Q3 operating profit while announcing a massive 100 trillion won (approximately $75 billion) shareholder return plan, sending its stock price surging 4%.

Today’s Market Recap: $63 Billion Anthropic Compute Financing Lifts Chip Stocks, Broadcom Gains 4%, CRWV Rises Nearly 8%, Boeing Falls Over 10%

TradingKey - On October 27, Eastern Time, all three major U.S. stock indexes closed higher, with the Nasdaq and the S&P 500 gaining for the second consecutive trading day. AI-related stocks continued to lead the rally, while a $63 billion computing power financing deal involving Broadcom (AVGO) lift

KOSPI Tops 5,800, Kioxia Jumps Over 4% as SK Hynix Revenue and Profit Hit Record Highs

The KOSPI surged over 3%, Kioxia jumped 4%, Samsung and SoftBank joined the rally, and SK Hynix unveiled a massive 100 trillion KRW in shareholder returns.

US Stocks Close: Nasdaq Rises Over 1%, Philadelphia Semiconductor Index Gains Over 3%; Chip Stocks Extend Rally, CoreWeave Gains Nearly 8%

On Tuesday, October 27, Eastern Time, U.S. stocks moved higher, with chip stocks extending their rally to drive the Nasdaq to lead the gains. Amid falling oil prices, investors continued to assess a heavy slate of corporate earnings reports while focusing on the Federal Reserve's interest rate meeting. At the close, the Dow Jones Industrial Average rose 0.03% to 52,377.57 points; the Nasdaq Composite Index gained 1.18% to 26,477.81 points; and the S&P 500 Index advanced 0.60% to 7,722.60 points.

Amazon Q3 Earnings Preview: AWS Growth Expected to Rise to 41%, Wall Street Top Price Target $400

TradingKey - Amazon (AMZN) will release its third-quarter 2026 financial results after the U.S. market close on October 29, Eastern Time, and hold an earnings conference call at 17:00 on the same day.

Featured Tools