#United States #New York #Dominari Holdings #Hut 8 #American Bitcoin

Dominari Holdings Partners with Hut 8 to Launch American Bitcoin Corporation

In a significant move for the cryptocurrency sector, Dominari Holdings Inc. (NASDAQ: DOMH) has announced a partnership with Hut 8 Corp to create the American Bitcoin Corporation. This new entity will focus predominantly on large-scale bitcoin mining operations and the strategic development of a bitcoin reserve. The partnership signifies a pivotal step in Dominari's strategy to leverage cutting-edge technology and expertise within the evolving landscape of digital currencies.

Originally, American Data Centers Inc. (ADC) was a subsidiary of Dominari Holdings. However, it is now an independent company with prominent members that include Donald J. Trump Jr. and Eric Trump, who are joined by a suite of industry experts from the AI field. This diverse group aims to drive the success of American Bitcoin, which will function at the forefront of the expanding cryptocurrency market.

Key Developments in the Partnership

The partnership's cornerstone is based on the transfer of Hut's ASIC miners to American Data Centers. As noted in Dominari’s Form 8-K, this exchange has solidified Hut's majority stake in the newly rebranded American Bitcoin. Moreover, Hut and American Bitcoin will engage in detailed agreements for Hut's personnel to oversee day-to-day management and operational activities, ensuring continuity in service and expertise in the mining processes.

This change means that all mining operations previously categorized under Hut's 'Compute' segment will now be recognized under the American Bitcoin brand. This transition not only streamlines operations but also optimizes resource allocation, aiming to propel American Bitcoin into a leading position within the market.

Vision and Goals of American Bitcoin

The primary ambition of American Bitcoin is to establish itself as the largest and most efficient dedicated bitcoin mining entity globally, while simultaneously developing a substantial strategic bitcoin reserve. The merger brings together Hut's established mining operations and cost-efficient infrastructure with the business acumen of Eric Trump, who assumes the role of Co-Founder and Chief Strategy Officer. His insights into market dynamics will be pivotal in positioning American Bitcoin as a frontrunner in promoting decentralized financial systems in the United States.

The vision turns ambitious as American Bitcoin seeks to capitalize on Hut’s expertise in modern mining techniques and infrastructure improvement, paired with a strong commitment to responsible capital management that ensures sustainable growth.

Benefits for Dominari Shareholders

For shareholders of Dominari, this partnership signals a significant creation of value. With an ownership stake reflecting the value tied to over $100 million worth of revenue-generating bitcoin mining machines, stakeholders are expected to reap substantial benefits from this initiative. This growth is promising, especially considering that these mining operations are supported by one of the foremost publicly traded bitcoin companies in the industry.

Kyle Wool, President of Dominari Holdings, expressed gratitude to the Board of Advisors for their crucial role throughout the transition. Their engagement was vital not only in driving negotiations but also in providing legal and strategic support essential for the successful execution of this transaction.

Wool highlighted the transaction as a milestone in Dominari's aim to evolve into a vibrant holding company that invests in emergent technologies within the financial and digital sectors. This decisive strategy underscores their commitment to maximizing long-term shareholder value.

Future Directions

Going forward, Anthony Hayes, CEO of Dominari Holdings, emphasized that this partnership represents a breakthrough in their broader strategy to facilitate shareholder growth through innovative opportunities within the American tech sector. By utilizing the capabilities of Dominari Securities, their full-service broker-dealer subsidiary, they plan to structure these new ventures appealingly for both private and public investors.

With comprehensive support from top-tier industry professionals, Dominari Holdings seems set to navigate the complexities of the cryptocurrency landscape effectively, bringing forth groundbreaking advancements and maximizing returns for their shareholders. The strategic synergy between these newly aligned entities signals a transformative era in crypto investments, promising to initiate fresh waves of value and stakeholder engagement in the ever-evolving technological landscape.