Trump Brothers Invested in Crypto Firm Labeling Climate Change as a Risks Scenario

In a notable move, American Bitcoin - a company within Donald Trump Jr.'s business empire - has seen significant investments from key members of the Trump family, including Donald Trump Jr., Eric, and two other leaders of the Trump Organization.

Donald Trump Jr. is part of a group of major investors who collectively own 5.5 percent of American Bitcoin. His brother Eric, on the other hand, held shares worth nearly 7 percent of Dominari before its stock began its meteoric rise. Interestingly, Eric Trump now controls over 9 percent of American Bitcoin's shares, worth nearly $37.8 million.

The company was founded by Hut 8 and Dominari Holdings, with Hut 8 Corp. now being the majority owner. Hut 8, a leading North American crypto miner, has contributed bitcoin mining computers worth over $115 million to American Bitcoin.

American Bitcoin went public via a merger with Gryphon Digital Mining. The company's operations rely on Chinese-made computers to earn bitcoins. However, it leverages Hut 8’s efficient ASIC mining technology and infrastructure, aiming for operational cost advantages that imply a more energy-conscious approach.

Despite the Trump family's investment in the crypto sector, their public comments on climate change have varied. Last year, Trump Jr. lambasted "the globalist scheme of fear mongering over climate change to limit energy consumption, kill jobs and reduce the quality of life for normal people." In contrast, in January, he argued that the deadly blazes that raged through sections of Los Angeles had "nothing to do with climate change and everything to do with Democrat incompetence."

In a surprising twist, American Bitcoin has warned investors about the potential dangers of climate change. The company's prospectus for potential investors cautioned that "physical risks related to climate change" could harm its operations. These risks include droughts, wildfires, floods, heat waves, hurricanes, winter storms, a lack of consistent climate legislation, and potential costs of future climate regulations.

It's worth noting that Dominari had accumulated more than $223.4 million in debt at the end of last year. Despite this, Hut 8 made a profit of almost $275.6 million in 2024. One gigawatt, the energy capacity Hut 8 controls across 15 sites in the U.S. and Canada, can power more than 225,000 U.S. homes.

In conclusion, the Trump family's investment in American Bitcoin marks a significant step into the crypto mining industry. As the administration slashes regulations on digital currencies and the fossil fuels that many energy-hungry data centers rely on, the future of this venture remains to be seen, with potential challenges from climate change looming on the horizon.

Trump Brothers Invested in Crypto Firm Labeling Climate Change as a Risks Scenario