Eric Trump, U.S. President Donald Trump’s second son, is about to look at this yr’s Consensus convention to debate his imaginative and prescient to reshape bitcoin mining in the US.
Trump will discuss American Bitcoin, a brand new enterprise shaped with Hut 8 the place he serves as Chief Technique Officer.
“The launch of American Bitcoin represents a transformative moment for Bitcoin mining in North America,” mentioned Trump in a press release. “I am so proud to finally unveil our bold vision for this initiative, which we believe will become the world’s largest and most efficient pure-play Bitcoin miner.”
Launched on March 31, American Bitcoin said it aims to become the world’s largest pure-play Bitcoin miner, targeting over 50 EH/s of mining capacity.
Eric Trump is scheduled to speak on May 15 at Consensus 2025, which takes place in Toronto May 14-16.
Consensus, which is organized by CoinDesk, is known as the longest-running conference in the digital assets industry, with attendance regularly topping 15,000 people. This year’s event will be at the Metro Toronto Convention Centre in downtown Toronto.
American Bitcoin is one of several crypto ventures launched by the Trump family. Eric Trump also backs World Liberty Financial, a DeFi protocol and planned blockchain-based marketplace where users can borrow and lend cryptocurrencies, create liquidity pools and trade stablecoins. In March, WLFI announced that it plans to launch its own stablecoin, USD1, with BitGo providing custody services.
In addition, Eric Trump is also an advisor to Metaplanet, the largest holder of bitcoin in Japan, which is following a Michael Saylor/Strategy-type bitcoin treasury model. He’s also an advisor to Dominari Holdings, a wealth management firm, which in March disclosed that it had bought $2 million of BlackRock’s iShares Bitcoin Trust (IBIT) shares.
Eric Trump told CNBC this month that the Trump Organization was drawn to crypto after being “debanked” by a number of monetary teams throughout the Biden Administration. “It actually is what drove us toward cryptocurrency,” he mentioned.
“You realize that cryptocurrency was a lot faster, it was a lot more pragmatic, it was a lot more transparent, it was exponentially cheaper.”“At this point, I know almost everybody in the industry in some way, shape or form,” he informed CNBC. “I fell in love with the industry, you know, a few years ago, and really dove head in.”
Eric Trump’s crypto interventions haven’t all been profitable. In February, Trump tweeted it was a “good time so as to add” ether (ETH), which was buying and selling round $2,700 on the time. At press time it’s buying and selling round $1,500.
