PANews reported on March 31 that Hut 8 Mining and Eric Trump, the second son of US President Trump, announced the establishment of American Bitcoin, aiming to set a new standard for Bitcoin mining. American Bitcoin plans to achieve a computing power target of 50+ EH/s, with an average energy efficiency of less than 15 J/TH, and plans to go public in the future. In this transaction, Hut 8 transferred most of its ASIC mining machine assets to American Data Centers Inc. in exchange for 80% of the equity, and renamed the company American Bitcoin.