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Trump-related mining company Hut 8 has established an office in Dubai to layout Bitcoin trading and hoarding.
On July 1st, according to reports, a Bitcoin mining company associated with the Trump family plans to establish an office in Dubai. Dubai is rapidly becoming an important center for the Crypto Assets industry due to its friendly attitude towards taxation and regulation.
According to the records of the Dubai International Financial Centre, Hut 8, headquartered in Miami, has registered to prepare for the establishment of an office last week. A company spokesperson confirmed that a team is being formed in Dubai, focusing on trading and encryption asset accumulation strategies. According to the year-end report, Hut 8 currently has Bitcoin mining operations in Texas, New York, and Alberta, Canada.
Hut 8 participated in a new company partially owned by Donald Trump Jr. and Eric Trump. The company is named American Bitcoin and is receiving the majority of Hut 8's Bitcoin mining equipment, planning to go public this year through a merger with another listed company. After the merger, Hut 8 will hold 80% of the new company, and several executives, including CEO Genoot, will join the board.
A spokesperson for Hut 8 stated that its new office in Dubai is unrelated to its partnership with American Bitcoin.