Eric Trump is positioning himself at the center of Bitcoin’s next major frontier—mining.
Speaking at the Consensus 2025 event in Toronto, he revealed his new venture, American Bitcoin, and outlined plans to transform it into a dominant force in the industry.
While global interest in Bitcoin surges, Trump noted that everyone from state-backed funds to global conglomerates is rushing to secure BTC. “Wherever I go, whether in the air or on the ground, all I hear is Bitcoin,” he said, capturing the sense of urgency surrounding crypto accumulation.
But unlike many institutional players focusing solely on buying, Trump aims to compete directly with Michael Saylor’s MicroStrategy—not by purchasing Bitcoin at six-figure prices, but by mining it more efficiently. His goal? Produce BTC at a fraction of the market rate, targeting extraction costs as low as $37,000.
Calling it a two-track race—one to accumulate, one to produce—Trump believes American Bitcoin will lead the latter, combining strategic infrastructure with cost-effective operations to claim a top spot in the global mining sector.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.
In a move that signals changing tides in traditional finance, JPMorgan is preparing to accept Bitcoin ETF holdings as collateral for loans—starting with BlackRock’s iShares Bitcoin Trust, according to insiders familiar with the plan.