Hut 8 CEO Spills the Beans on Ambitious American Bitcoin Venture!

Hut 8's CEO, Asher Genoot, dropped some serious deets in a wild Bloomberg interview about their fresh American Bitcoin venture. Hold onto your hats, folks!

Joined by none other than Eric Trump on Bloomberg TV, Genoot didn't mince words. "We're not starting from scratch with the Trump fam," he declared. Nope, they're kicking things off as a "scaled mining operation from day one." Boom!

Here's the juicy part: Hut 8 is throwing their mining rigs into the mix for a whopping 80% stake in American Bitcoin. That's right, they're bringing some serious infrastructure to the table, ready to mine those Bitcoins (BTC) like there's no tomorrow.

"We'll contribute our rigs into the entity in return for an 80% stake," Genoot spilled. "And then we'll go build and scale and build this business together rather than from kind of a startup." You heard it here first, folks!

Mining Bitcoin is a Hot Ticket for Investors

But wait, there's more! Genoot revealed that the company's got its sights set on going public down the line. They're positioning themselves as a "pure play" Bitcoin miner, cranking out BTC cheaper than you can buy it. Talk about a game-changer!

American Bitcoin isn't messing around. They're all about holding Bitcoin on their balance sheet, building up a strategic reserve, and becoming a major player in the game.

"The vision here is to give shareholders a pure play mining company that has the ability to produce Bitcoin cheaper than just buying it," Genoot said, dropping truth bombs left and right. "And so continuing to build the strategic reserve and be one of the largest Bitcoin miners and Bitcoin holders out there." You better believe it!

Genoot didn't stop there. He called the partnership with Eric Trump and American Data Centers a match made in heaven, blending crypto with America's energy infrastructure. "We believe in Bitcoin, we believe in America," he declared, and you can feel the passion in his words.

But he's not just talking the talk. Genoot's all about pushing for broader Bitcoin adoption at the state and federal level. He pointed out that multiple state governments are already exploring their own strategic reserves, but his venture? They're gonna "lead by example." Watch out, world!