American Bitcoin Corp., a joint venture announced Monday (March 31) by bitcoin mining firm Hut 8 and an investor group that includes President Donald Trump’s two older sons, reportedly plans to go public.

The company, which is a crypto mining venture, will go public eventually and plans to seek additional private capital before it does, according to Hut 8 CEO Asher Genoot, Bloomberg reported Tuesday (April 1).

“So, you can see this in the long term as two sister publicly traded companies,” Genoot said, per the report, adding that one firm will focus on energy, infrastructure and data centers, while the other will focus on bitcoin, application-specific integrated circuits (ASICs) and reserves, and “together they form a vertically integrated company that has some of the best economics out there.”

Eric Trump, who helped launch the joint venture with his brother, Donald Trump Jr., said earlier Tuesday, per the report, “We are going to become the greatest bitcoin mining company on Earth and we are doing it here in America.”

When announcing the launch of American Bitcoin Corp. Monday, Hut 8 said the new joint venture will focus on bitcoin mining and “strategic bitcoin reserve development.”

“From the start, we’ve backed our conviction in bitcoin — personally and through our businesses,” Trump Jr. said in a Monday press release. “But simply buying bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity. We’re excited to bring investors into that equation through a platform engineered to execute on this thesis and deliver real, tangible participation in bitcoin’s growth.”

Digital assets like bitcoin have emerged as a potentially innovative component of the modern capital stack as enterprise finance leaders seek hedges against inflation and economic uncertainty, PYMNTS reported Tuesday.

For example, publicly traded Japanese hotel company Metaplanet said Tuesday that it bought 696 bitcoins for its corporate holdings at a cost of around $60 million. On March 25, retailer GameStop announced that its board of directors approved a revision of its corporate investment policy to allow the company to buy bitcoin with its corporate cash.

The post Trump Brothers’ Crypto Mining Venture American Bitcoin to Go Public appeared first on PYMNTS.com.

OKLAHOMA CITY (KFOR) — A freshman Oklahoma lawmaker has brought up a new possible ethics complaint centered around State Superintendent Ryan Walters.

In an interview with Non-Doc, Representative Ellen Pogemiller (D-Oklahoma City) said she not only asked Attorney General Gentner Drummond for his opinion, but also filed another complaint with the Oklahoma Ethics Commission.

Pogemiller said she believes that because Walters seemingly endorsed an alternate organization to what he called "woke teachers' unions" through the use of his state letterhead, he probably violated an ethics rule.

"I knocked on several doors and most of the people told me that their main concern is holding Ryan Walters accountable," said Pogemiller.

In his press release, he promoted the Teacher Freedom Alliance, a program founded in March by the Freedom Foundation, a right-wing think tank.

Walters already accepted a settlement agreement this year for an ethics violation where he pushed politically charged opinions while using his state profile on "X."

There he was told to take an ethics training course and to pay $5,000.

Pogemiller believes that in this instance Walters issued written communications on official state letterhead and using state resources, advocating for TFA and positioning it as a preferable alternative to other labor organizations and professional organizations representing educators in Oklahoma. 

"So it's (the letterhead) an official capacity as state superintendent. And so I feel like that went beyond the scope of what he was able to do and I wanted to get clarification," said Pogemiller.

Specifically, she listed two reasons the communications violated ethics rules:

• State officers are prohibited from using state resources to promote private interests.
• State officers may not use their position to provide preferential treatment to a specific private entity.

State dollars have already been used to pay the Freedom Foundation. In July 2023, an Open Records Request found that Walters billed Oklahoma over $500 for airfare, mileage, and per diem for an appearance as the keynote speaker at the Freedom Foundation's Teachers for Freedom Summit in Denver, Colorado.

Walters in the past, has been admittedly against teachers' unions and at one point even called them "terrorist organizations."

The AG's office told News 4 on Friday that Pogemiller's request for an opinion is still being reviewed.

News 4 reached out to an OSDE spokesperson via email on Friday and asked what specifically was woke about the teachers' unions in Oklahoma if he believes what Pogemiller is saying is against ethics rules, and for a statement.

Another question we asked is if the Teachers Freedom Alliance can provide the same sort of things that other teachers' unions in our state can.

News 4 also reached out to a person listed on a recent press release as being a part of the Teachers Freedom Alliance and asked if they provide liability insurance coverage to teachers or have the legal right in Oklahoma to negotiate working conditions. As of Friday evening, we have not heard back.