Trump Family-Linked Bitcoin Miner Heads to Dubai
2025-07-01 15:32:30
Main Idea
Hut 8, a Bitcoin mining company linked to the Trump family, has expanded to Dubai's International Financial Centre (DIFC) to enhance capital management and liquidity, capitalizing on the UAE's crypto-friendly regulations and growing market.
Key Points
1. Hut 8, a North American Bitcoin mining company with ties to the Trump family, has established a new office in Dubai's DIFC to focus on digital asset trading and treasury operations.
2. The company aims to improve capital management, liquidity, and flexibility, with CEO Asher Genoot stating this move will enhance precision and efficiency in capital strategy.
3. Hut 8 has close ties with American Bitcoin Corp., co-founded by Donald Trump Jr and Eric Trump, with Hut 8 owning 80% and the Trump family holding 20%.
4. The venture recently raised $220 million, including $10 million paid in Bitcoin at approximately $104,000 each, to buy Bitcoin and mining equipment.
5. Dubai and the UAE are attractive to crypto businesses due to clearer regulations, tax benefits, and a crypto-friendly environment, with crypto investments in the UAE reaching $30 billion last year.
Description
Hut 8, a mining company linked to the Trump family, has registered a new office in Dubai’s International Financial Centre The company has close ties with American Bitcoin Corp., co-founded by Donald Trump Jr. and Eric Trump, with Hut 8 owning 80% and the Trump family holding 20% Last year, the crypto investments in the UAE reached $30 billion Hut 8, a major North American Bitcoin mining company linked to the Trump family, has registered a new office in Dubai’s International Financial Centre (DIF...
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