Trump-Linked Bitcoin Miner Hut 8 Eyes Dubai for Expansion
2025-07-01 10:38:30
Main Idea
Hut 8, a Trump-linked Bitcoin mining company, is expanding to Dubai to enhance capital strategy efficiency and leverage the region's crypto-friendly regulations.
Key Points
1. Hut 8 registered a new office in Dubai International Financial Centre, focusing on digital asset trading and treasury management.
2. CEO Asher Genoot stated the Dubai base aims to improve the precision and efficiency of Hut 8’s capital strategy.
3. Dubai’s tax-friendly and light-touch regulatory environment is attracting crypto businesses amid tightening regulations in the US and Europe.
4. Hut 8 operates Bitcoin mining in Texas, New York, and Alberta, with 220 employees as of end-2024.
5. The company plans to merge with Trump-affiliated American Bitcoin Corp., retaining an 80% stake and leadership roles in the new entity.
Description
Hut 8, the North American Bitcoin mining firm tied to the Trump family, is opening an office in Dubai, signaling a strategic shift toward global expansion and capital efficiency. The move comes as the Gulf city continues to lure digital asset firms with its relaxed tax policies and business-friendly environment. The Miami-based company registered the new office last week with the Dubai International Financial Centre, one of the region’s key financial zones. Bloomberg confirmed that the firm is a...
Latest News
- Why Is Crypto Down Today? – July 4, 20252025-07-04 11:13:52
- US Spot Bitcoin ETFs See $1B Inflows in Two Days After Brief Outflow Streak2025-07-04 10:58:34
- FTX Seeks Court Approval for Restricted Jurisdiction Claims as 82% of Value Comes from Chinese Users2025-07-04 10:30:05
- Binance Launches Institutional Loans With Up to 4x Leverage, Zero Interest Offers2025-07-04 09:58:20
- Chinese Tech Giants Alibaba and JD.com Urge Central Bank Approval for Yuan-Based Stablecoins2025-07-04 09:40:08