Étienne Girard
Hut 8, a Bitcoin mining company linked to the Trump family, has recently secured $220 million to boost its mining capabilities and digital asset infrastructure.
In a significant development, the firm has chosen Dubai as its new strategic hub, officially registering an office at the Dubai International Financial Centre (DIFC). This expansion aligns with the city’s rising status as a global crypto hub.
“While the U.S. promotes itself as a leader in crypto innovation, companies like Hut 8 are increasingly turning to locations like Dubai for operational advantages,” said Omar Elassar, managing director of Animoca Brands’ Middle East division.
Why Dubai? A Growing Crypto Powerhouse
Dubai’s tax incentives, regulatory clarity, and business-friendly environment attract major players in the crypto sector. Hut 8’s new Dubai team will focus on crypto trading and capital strategies, complementing its existing operations in Texas, New York, and Alberta, Canada.
“Dubai provides institutional players with the confidence and framework needed to manage complex digital asset strategies,” explained Jakob Kronbichler, CEO of Clearpool.
Deep Trump Family Connections and Crypto Ambitions
Hut 8 holds a majority stake in American Bitcoin, a company co-founded by Eric Trump, who served as its Chief Strategy Officer. Donald Trump Jr. is also a shareholder. The company recently announced plans to go public through a merger with NASDAQ-listed Gryphon Digital Mining.
Balancing Regulatory Challenges and Global Expansion
While U.S. regulators have struggled to create a cohesive crypto framework, Dubai’s Virtual Assets Regulatory Authority (VARA) offers a clear path for compliance and growth, making the city an attractive alternative for crypto firms looking to scale.
Conclusion: A New Era for Crypto Innovation
With its $220 million capital raise and strategic move to Dubai, Hut 8 exemplifies the shifting landscape of crypto innovation, where geopolitical strategy and regulatory environments shape the future of digital assets.
