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    Home»Crypto News»Hut 8 Raises $220 Million as Trump-Linked Crypto Tasks Forge Deeper Ties With UAE – Decrypt
    Hut 8 Raises 0 Million as Trump-Linked Crypto Tasks Forge Deeper Ties With UAE – Decrypt
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    Hut 8 Raises $220 Million as Trump-Linked Crypto Tasks Forge Deeper Ties With UAE – Decrypt

    By Crypto EditorJuly 1, 2025No Comments4 Mins Read
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    Hut 8 Raises $220 Million as Trump-Linked Crypto Tasks Forge Deeper Ties With UAE – Decrypt

    In short

    • Hut 8, a Bitcoin mining agency with Trump household ties, raised $220 million to purchase extra gear.
    • The corporate additionally registered an workplace in Dubai, a rising crypto hub, final week.
    • It follows a string of Trump-linked crypto ventures gaining traction within the UAE.

    Hut 8, a Trump family-linked Bitcoin mining agency, has expanded its operations to Dubai, based on filings submitted final week to the Dubai Worldwide Monetary Centre. 

    On Monday, the corporate additionally disclosed it had raised $220 million to buy Bitcoin and mining infrastructure.

    The corporate is almost all proprietor of American Bitcoin, a mining enterprise co-founded by Eric Trump, who served as its Chief Technique Officer. His brother Donald Jr. can be a shareholder within the firm. 

    Former Hut 8 Chief Industrial Officer Matt Prusak now leads American Bitcoin, and two Hut 8 executives sit on its board. American Bitcoin lately introduced plans to go public by way of a merger with NASDAQ-listed Gryphon Digital Mining.

    Hut 8 confirmed to Bloomberg that the Dubai workplace would home a brand new staff targeted on buying and selling and digital asset methods. The corporate already operates amenities in Texas, New York, and Alberta, Canada. 

    “For companies like Hut 8—which handle sizable Bitcoin reserves—Dubai affords an atmosphere the place capital methods can embody not simply buying and selling, but in addition real-world deployment,” Jakob Kronbichler, CEO and co-founder of Clearpool and Ozean, instructed Decrypt. “That’s precisely what institutional gamers are searching for.”

    Whereas President Donald Trump and his sons have promoted the concept of constructing the U.S. the worldwide capital of crypto innovation, their enterprise pursuits have been more and more gravitating towards the United Arab Emirates.

    Dubai, specifically, has turn out to be a magnet for crypto companies, drawn by its low taxes and comparatively unfastened regulatory framework. However that very same atmosphere has additionally raised issues about cash laundering and monetary crime.

    The Aqua 1 Basis, a UAE-based fund, has lately invested $100 million in tokens issued by World Liberty Monetary, one other crypto enterprise backed by Trump. Certainly one of its co-founders, Zach Witkoff, is the son of Steve Witkoff, a longtime Trump ally and his former particular envoy to the Center East.

    In the meantime, in neighboring Abu Dhabi, USD1, a stablecoin launched by World Liberty Monetary, is getting used to underpin a $2 billion funding in crypto change Binance by native funding agency MGX.

    Efforts within the U.S. by Democrats to stymie the flexibility of sitting presidents to revenue from crypto offers have but to achieve any traction. 

    The Trump household has lengthy had ties with the UAE, together with working a golf membership there and a presently under-construction skyscraper.

    The Trump Worldwide Resort and Tower in Dubai will embody luxurious residences, a lodge, and what’s billed because the world’s highest swimming pool. Introduced earlier this yr, the event permits property purchases in cryptocurrency, Eric Trump mentioned in April.

    Dubai’s rising standing as a crypto hub isn’t with out controversy. The town’s actual property and monetary sectors have lengthy been scrutinized for facilitating illicit monetary flows. 

    Investigations by the Organized Crime and Corruption Reporting Venture (OCCRP) have highlighted Dubai’s position as a haven for cash launderers and arranged crime teams, shielded by lax disclosure guidelines and an absence of transparency.

    Nonetheless, Dubai’s Digital Belongings Regulatory Authority has launched a purpose-built framework that gives corporations with “clear steerage,” based on Kronbichler.

    “For companies managing crypto belongings at scale, that sort of regulatory construction creates the arrogance to execute extra advanced methods,” he mentioned.

    Edited by Sebastian Sinclair

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