The right team and the right time“We’ve thought about splitting out our Bitcoin mining and energy infrastructure businesses for some time,” Genoot said.“Meeting Eric and Don Jr., and seeing their deep passion for Bitcoin and infrastructure, was the perfect catalyst.”According to Genoot, the goal is clear: to build one of the world’s largest and most efficient Bitcoin mining platforms, rooted in American soil and aligned with pro-Bitcoin sentiment growing under President Donald Trump’s administration.“Eric told me, ‘I don’t want to get involved in anything that isn’t the biggest and the best,’” he said.
Earlier this week, Bitcoin mining giant Hut 8 revealed a partnership that includes two members of the Trump family — Donald Jr.and Eric — and its plans to launch a new mining venture, American Bitcoin. In an exclusive interview on Decentralize with Cointelegraph’s Byte-Sized Insight series, Hut 8 CEO Asher Genoot shared new details about the venture’s vision, why the timing was right and how the company plans to scale.
If our cost basis isn’t low, we might as well just buy Bitcoin.”Related: Bitcoin miner Hut 8 argues to toss ‘short and distort’ shareholder suitMining and accumulating BTCAmerican Bitcoin’s structure allows it to mine BTC at low cost, accumulate more when the market allows, and potentially expand into other Bitcoin ecosystem services.
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Author / Journalist: Cointelegraph by Savannah Fortis
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