The crypto mining company supported by the Trump family plans to go public with an IPO

According to Cointelegraph citing Bloomberg, the cryptocurrency mining company American Bitcoin Corp, jointly established by listed mining company Hut 8 and the Trump family investment group, plans to conduct an initial public offering (IPO) to raise more funds. The joint venture was officially established this week with investors including Donald Trump Jr. and Eric Trump. In an interview, Hut 8 CEO Asher Genoot said: "In the long run, this will form two listed sister companies; one focusing on energy infrastructure and data centers, and the other focusing on bitcoin miners and reserves, together constituting a vertically integrated top business model."

Eric Trump claimed in a phone conference on Tuesday: "We will build the world's strongest Bitcoin mining company right here in America."

It is reported that Hut 8 has transferred almost all of its mining equipment into newly formed American Bitcoin. The new company will specialize in bitcoin mining while Hut 8 will focus on expanding its data center business to support infrastructure construction for artificial intelligence applications.