Eric Trump and Donald Trump Jr. are collaborating with executives who previously founded mining companies in an attempt to enter the cryptocurrency mining industry. These executives' former mining companies received support from investors involved in illegal penny stock manipulation. The Trump sons, along with other investors, established a new company that merged with the publicly traded mining company Hut 8 Corp. Hut 8's CEO Asher Genoot and Chief Strategy Officer Michael Ho joined the company in 2023 after Hut 8 acquired another mining company they founded, US Bitcoin. Financial backers of US Bitcoin were charged and settled with the U.S. Securities and Exchange Commission in 2018 for illegally promoting and manipulating microcap stock trading.

To break into the cryptocurrency mining industry, Eric Trump and Donald Trump Jr. are teaming up with executives who previously founded a miner with the backing of investors implicated in an illegal penny-stock pump-and-dump operation.The Trump sons and other investors created a new company and merged it with publicly-traded miner Hut 8 Corp., led by Chief Executive Officer Asher Genoot and Chief Strategy Officer Michael Ho. Those executives came to Hut 8 in 2023 when the company bought another miner the two founded called US Bitcoin, which was formed with financial backers who in 2018 settled accusations by the Securities and Exchange Commission of illegal promotion and manipulative trading of microcap stocks.

Trump's son partners with a mining executive previously involved in illegal stock manipulation to enter the Bitcoin mining industry