- Hut 8, a mining company linked to the Trump family, has registered a new office in Dubai’s International Financial Centre
- The company has close ties with American Bitcoin Corp., co-founded by Donald Trump Jr. and Eric Trump, with Hut 8 owning 80% and the Trump family holding 20%
- Last year, the crypto investments in the UAE reached $30 billion
Hut 8, a major North American Bitcoin mining company linked to the Trump family, has registered a new office in Dubai’s International Financial Centre (DIFC), focusing on digital asset trading and treasury operations.
The company’s goal is to improve capital management, liquidity, and flexibility. As the CEO Asher Genoot noted, this expansion “will enhance the precision and efficiency of Hut 8’s capital strategy”.
Lately, Dubai and the UAE in general have been a hotspot for crypto expansion. The city offers zero corporate taxes in free zones and a business-friendly regulatory approach, significantly contributing to its status as a global crypto and financial hub.
Hut 8’s Connections
Hut 8 has close ties with American Bitcoin Corp., co-founded by Donald Trump Jr and Eric Trump, with Hut 8 owning 80% and the Trump family holding 20%. The venture recently raised $220 million to buy Bitcoin and mining equipment – $10 million of which was paid in Bitcoin at approximately $104,000 each.
Earlier in May, it was announced that American Bitcoin is planning a Nasdaq listing via a merger with Gryphon Digital Mining.
Dubai and the UAE as a crypto haven
The DIFC provides clearer rules compared to the evolving and sometimes murky US and EU regulatory frameworks. This appeals to companies seeking global liquidity access without tax burdens, especially for Bitcoin treasury strategies.
Furthermore, the UAE actively courts crypto businesses as part of its economic diversification, although it sometimes draws scrutiny from organizations like OCCRP (Organized Crime and Corruption Reporting Project) over potential money laundering risks.
Despite such events, the country leads in per capita crypto ownership, with approximately 25% to 28% of the population holding digital assets. Last year, the crypto investments in the UAE reached $30 billion, and the country’s crypto-friendly posture has driven 10.5% FDI growth, with digital asset services integrated into everyday sectors such as taxis and airlines.
Additionally, VARA (Virtual Assets Regulatory Authority in Dubai) has signed cooperation deals with Solana Foundation and Ripple, indicating active support for blockchain innovation via educational programs and economic zones in the city.
All of this illustrates how important regulation and tax policy are in shaping financial power centers. Dubai’s and the UAE’s appeal shows how capital can quickly flow to jurisdictions with clear rules and favorable conditions.
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