Business
Dominari Holdings Investment, American Data Centers, Becomes American Bitcoin in Transformative Bitcoin Mining Deal with Hut 8
Dominari Executing Expansion Strategy with Investment in Industrial Scale Bitcoin Mining and Bitcoin Reserve Development NEW YORK, March 31, 2025 /PRNewswire/
About this update from Dominari Holdings Inc.
[{"type":"text","content":"Dominari Executing Expansion Strategy with Investment in Industrial Scale Bitcoin Mining and Bitcoin Reserve Development\n NEW YORK, March 31, 2025 /PRNewswire/ -- Dominari Holdings Inc. (Nasdaq: DOMH) today announced that American Data Centers Inc. (\"ADC\") and Hut 8 Corp, (\"Hut\") partnered to form American Bitcoin Corporation. As previously announced, ADC was a wholly owned subsidiary of Dominari, but became an independent company, whose members include Donald J. Trump Jr., Eric Trump, Dominari and other industry professionals in the AI space. In partnership with Hut, American Bitcoin Corp., will focus on industrial-scale bitcoin mining and strategic bitcoin reserve development and monetization.\n\n \n \n \n \n \n \n\n \nKey Terms of the Transaction with Hut \nAs set forth in Dominari's Form 8-K filed on March 31, 2025, Dominari completed its first strategic initiative under the guidance and support of its Board of Advisors. The launch of American Bitcoin follows the strategic contribution of substantially all of Hut's ASIC miners to American Data Centers, in exchange for a majority interest. In connection with the transaction, American Data Centers was subsequently renamed and relaunched as American Bitcoin. In addition, Hut and American Bitcoin also entered into definitive agreements providing for Hut and its personnel to provide day-to-day commercial and operational management services and ASIC colocation services to American Bitcoin. As a result of the transactions, all Bitcoin mining operations previously reported under Hut's \"Compute\" segment as Bitcoin Mining, will now operate under the American Bitcoin brand. Dominari Board of Advisors member, Eric Trump, is the Co-Founder and Chief Strategy Officer of American Bitcoin. \nAmerican Bitcoin aims to become the world's largest, most efficient pure-play bitcoin miner while building a robust strategic bitcoin reserve. The transaction combines Hut's proven mining operations, cost-efficient infrastructure development capabilities, and disciplined approach to capital allocation, with Eric Trump's commercial acumen, capital markets expertise, and commitment to positioning the United States as a global leader in the advancement of decentralized financial systems.\nImpact on Dominari Shareholders\nThe transaction represents significant shareholder value creation for Dominari....