Bitcoin Miner Tied to Trump Sons’ Plans for Dubai Crypto Trading Team

A Bitcoin mining firm associated with the Trump family plans to set up an office in Dubai, an emerging hub for the cryptocurrency industry recognized for its advantageous taxation and regulatory framework.

Hut 8 Corp, located in Miami, announced its intention to establish a new office last week, according to a filing with the Dubai International Financial Centre. A company representative confirmed that they are in the process of assembling a team in Dubai dedicated to trading and crypto-holding strategies. According to its year-end report, Hut 8 operates Bitcoin mining facilities in Texas, New York, and Alberta, Canada.

The CEO, Asher Genoot, mentioned in an email that expanding to Dubai will “improve the precision and efficiency of Hut 8’s capital strategy.” The company had approximately 220 employees at the end of 2024.

Dubai has successfully drawn in crypto investors and businesses due to its comparatively low taxation—boasting free zones that are exempt from corporate taxes—and strong enforcement policies. The Gulf state has been working for years to position itself as a crypto hub as part of its strategy to diversify its economy away from fossil fuels.

Hut 8 is involved with a newly established firm, partially owned by Donald Trump Jr. and Eric Trump. This company, named American Bitcoin, is poised to acquire much of Hut 8’s Bitcoin mining equipment and intends to go public this year by merging with another listed company. Hut 8 will maintain 80% ownership of the new entity, and executives, including Genoot, will join the board.

The upcoming office in Dubai is not associated with Hut 8’s relationship with American Bitcoin, as clarified by the spokesperson.

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