The Trump family-backed American Bitcoin company is rapidly shaping up in Delaware, Texas. In a fresh development, Eric Trump shared a sneak-peak into the company’s BTC mining division, pointing out that crypto is very tangible. President Donald Trump’s elder son, Eric, serves as the Chief Strategy Officer at Bitcoin American.
Eric posted a video on Tuesday, November 25 sharing the insider view of mining facility. The minute-long video showed the hefty BTC mining equipment neatly stacked in the empty facility.
“We could not be more proud of this facility, 35,000 of these servers right here, all liquid cooled, securing the network, mining Bitcoin every single day,” the 41-year-old BTC advocate said just days after predicting the possibility of BTC hitting the $175,000 mark by the end of 2025.
Eric founded American Bitcoin in March this year alongside his younger brother Donald Trump Jr. Canada-based BTC mining form Hut 8 Mining is the majority partner in this company, controlling 80 percent equity stake – leaving the remaining 20 percent stake with the Trump brothers close to worth $1.5 billion.
In September, the company stocks debuted on Nasdaq and soared as high as $14.52 in its first day of trading. As of Tuesday, November 25 the company stock (ABTC) is reflecting a dip of 0.90 percent to trade at $4.40.
Sharing fresh updates on the facility Eric Trump claimed, “We mine about two percent of the world’s Bitcoin supply, and we safeguard it every single day. So when people say that cryptocurrency is intangible, it’s not. It’s very tangible, and this right here, guys, is living proof.”
In the backdrop of President Trump wanting to make the U.S. the crypto capital of the world, the Trump family has launched a string of crypto ventures in the past year, from American Bitcoin to World Liberty Financial.
Owing to the recent market slowdown and BTC’s dip to $85,000 levels, the First Family of U.S. has reportedly lost $1 billion in its net worth, Forbes reported over the weekend.