Hut 8 (NASDAQ:HUT) shares surged 8% premarket on Monday after the company introduced a new bitcoin mining venture alongside Eric Trump. Under the transaction, Hut 8 contributed the majority of its wholly-owned ASIC miners to American Data Centers - a company formed by a group of investors including U.

The Trump family is set to launch a Bitcoin mining-focused venture with Hut 8 Corp., the latest expansion of the US president’s ties to the cryptocurrency sector.Hut 8 is launching American Bitcoin Corp.

Hut 8 will spin off its pure mining segment as American Bitcoin Corp., in partnership with Eric Trump. The new entity will get its equipment, locations and daily support from Hut 8, while operating as an independent financial entity.