- Eric Trump unveiled plans for American Bitcoin, a new bitcoin mining company co-founded with Hut 8, at Consensus 2025 in Toronto.
- The venture aims to mine bitcoin in the U.S. at a fraction of the current cost, leveraging low-cost American energy to become one of the most efficient mining operations globally.
- Trump attributed his entry into crypto to political motivations and regulatory scrutiny of the space.
Eric Trump, son of U.S. President Donald Trump, took center stage at Consensus 2025 in Toronto on Wednesday, unveiling his ambitious plans for American Bitcoin, a new bitcoin mining firm launched in partnership with Canadian crypto mining giant Hut 8.
Speaking alongside American Bitcoin co-founder and Hut 8 CEO Asher Genoot, Trump delivered a passionate endorsement of bitcoin, calling it “digital gold” and highlighting its role as a store of value.
“If I can mine an asset for literally a third the cost that it’s trading at right now... that’s an awesome combination,” said Trump. “I think we’re going to accumulate a tremendous amount of bitcoin.”
During the discussion, Trump attributed his growing interest in cryptocurrency to political factors.
“It wasn’t until the same group attacking my family started attacking the crypto community that it really brought us together,” he remarked, referencing what he sees as regulatory overreach against digital assets. “That partnership has been absolutely amazing.”
His comments came during one of the most highly attended sessions at this year’s Consensus event, which has brought together a mix of industry leaders, regulators, and innovators to discuss topics such as DeFi, tokenization, decentralized AI, and the shifting regulatory environment.
Consensus 2025 marks the first time the conference is being held in Toronto, with plans to expand to Hong Kong and Miami in 2026, further cementing its role as a global hub for the crypto and blockchain industry.
American Bitcoin: Aiming to Lead the Mining Race
American Bitcoin, according to Trump, aims to become one of the most efficient and cost-effective bitcoin mining operations in the U.S.. Trump emphasized the use of low-cost American energy to drive competitive advantages and the importance of scaling bitcoin reserves through strategic mining.
“I also want to be the person who’s mining it, by far the cheapest,” he added. “And I think we can win that race.”
While specific details on operational scale and mining infrastructure remain limited, the company’s partnership with Hut 8, a firm with deep experience in energy-efficient mining, suggests a focus on sustainable practices and institutional-grade infrastructure.
American Bitcoin’s announcement came amidst a packed Consensus agenda featuring notable names like Kevin O’Leary, Dave Portnoy, and Adrienne A. Harris, with sessions addressing emerging trends like Real World Assets (RWAs), stablecoins, and the convergence of AI and blockchain.
Trump is also scheduled to return to the stage tomorrow, May 16, to speak on stablecoins, continuing his vocal presence at the conference.
Edited by Harshajit Sarmah
