Hut 8 Relocates Miners, Forms New Subsidiary for American Bitcoin Launch

Hut 8 Corp., a prominent crypto mining company, has established American Bitcoin Corp., a wholly owned subsidiary dedicated to industrial-scale Bitcoin mining and reserves. This strategic move sees the company shift nearly all its ASIC miners to American Data Centers, Inc., securing a majority stake in the latter in exchange. The rebranding from Hut 8’s Compute segment reflects this transition.