Trump-linked Bitcoin mining firm Hut 8 plans to open office in Dubai

PANews reported on July 1 that according to Cryptonews, Hut 8, a North American Bitcoin mining company, registered last week to set up a new office in the Dubai International Financial Center, focusing on digital asset trading and fund management. The company's CEO said that the move is aimed at improving the accuracy and efficiency of capital strategies, and a local team is currently being formed. Hut 8 currently operates mines in Texas, New York, and Alberta, Canada, with about 220 employees. Dubai's zero corporate tax policy and relaxed regulatory environment continue to attract crypto companies to settle in. It is worth noting that the company is associated with American Bitcoin Corp, which is supported by the Trump family, but the Dubai business is an independent operation plan. Previously, Hut 8 had announced that most of its mining operations would be merged into American Bitcoin Corp, retaining 80% of the equity after the merger, and Trump family-affiliated companies would hold 20% of the shares. The new company is expected to go public in the second half of 2025.