Oh my god, you guys. Remember that time the Trump boys decided to get in on the whole Bitcoin thing?
Well, get this: American Bitcoin Corp., the company backed by Donald Trump Jr. and Eric Trump (you know, those two), is apparently going public! 🤯 According to Bloomberg, they’re planning a whole IPO extravaganza to raise some serious dough.
This comes after Hut 8, a publicly traded Bitcoin miner, bought a majority stake in American Bitcoin (formerly American Data Centers) back in March. Apparently, Hut 8 just transferred all its Bitcoin mining equipment into this new entity. Talk about a power move!
The boys are planning to keep focusing on the whole crypto mining thing, while Hut 8 is going to concentrate on data center infrastructure for all sorts of high-tech stuff. It’s like a corporate love-in, but with a lot more Bitcoin, obviously.
According to Asher Genoot, the CEO of Hut 8, this whole thing is going to be like a happily ever after for both companies. “So you can see this in the long term as two sister publicly traded companies,” he told Bloomberg. “One that is energy, infrastructure data centers and the other one that’s Bitcoin, AISCs and reserves and together they form a vertically integrated company that has some of the best economics out there.”
Ugh, economics.
Oh, and guess who American Bitcoin is working with? You guessed it, Bitmain – the Chinese Bitcoin mining hardware supplier. I mean, why not, right?
Bitcoin Halving & AI Takeover
Apparently, Bitcoin miners are starting to realize that mining Bitcoin isn’t exactly the gravy train it used to be. With all this talk about a Bitcoin halving happening in 2024 (which means they’ll be mining half as much Bitcoin), they’re starting to look at other ways to make money.
Enter: Artificial Intelligence!
Apparently, Bitcoin miners are now pivoting to become AI data center hosts. It’s like they’re trading in their pickaxes for supercomputers. Who knew, right?
Of course, with Bitcoin prices being all over the place and the whole crypto market in a bit of a frenzy, even the most tech-savvy miners are probably feeling a little stressed. Let’s just hope they figure it out before their Bitcoin empires crumble.
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2025-04-02 00:52