Post
What do you think of Hut 8 and Trump's second son Eric Trump's announcement of the establishment of a Bitcoin mining company American Bitcoin?
Replies
Eric Trump and Donald Trump Jr.’s participation in the establishment of American Bitcoin is a sign that Bitcoin mining is gaining more attention from political elites. This could help promote Bitcoin-friendly policies in the United States, but it could also further involve Bitcoin in political games.
As American Bitcoin’s exclusive infrastructure and operations partner, Hut 8 is likely to benefit from the new company’s growth, but will also be subject to greater risk of market volatility and policy uncertainty.
The American Bitcoin plan is not only about mining, but also about the strategic reserve of Bitcoin, which is somewhat different from traditional mining companies. Does this mean that Bitcoin is being regarded as digital gold or even an enterprise-level reserve asset?
American Bitcoin plans to become the world's largest and most efficient Bitcoin mining company, setting a goal of 50+ EH/s. However, in the context of fierce competition and high electricity costs, how to achieve this goal remains unknown.
If American Bitcoin develops smoothly and seeks an independent listing, it may further attract Wall Street and institutional funds into the Bitcoin mining industry.
