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The Bitcoin mining company Hut 8, related to Trump, plans to establish an office in Dubai.
PANews, July 1 - According to Cryptonews, North American Bitcoin mining company Hut 8 has registered a new office in the Dubai International Financial Centre, focusing on digital asset trading and fund management. The company's CEO stated that this move aims to enhance the precision and efficiency of capital strategies, and they are currently forming a local team. Hut 8 currently operates Mining Farms in Texas, New York, and Alberta, Canada, with approximately 220 employees. Dubai's zero corporate tax policy and relaxed regulatory environment continue to attract encryption companies to settle. It is worth noting that the company has ties to the American Bitcoin Corp supported by the Trump family, but the Dubai operations are planned to be independent. Previously, Hut 8 announced that it would merge most of its Mining Farm operations into American Bitcoin Corp, retaining 80% ownership after the merger, while the Trump family-related company holds 20% of the shares. The new company is expected to go public in the second half of 2025.