Key facts
- Matt Prusak is departing American Bitcoin, where he served as president and interim CFO.
- Prusak will assume the roles of chief business officer and interim CFO at Giga Energy.
- His transition is effective August 4.
- The move signifies a trend of executives migrating from bitcoin mining to AI and power infrastructure development.
- American Bitcoin is a Nasdaq-listed mining company co-founded by Eric Trump.
Matt Prusak, president and interim chief financial officer of American Bitcoin, is leaving the company to join AI and energy infrastructure developer Giga Energy. Prusak stated that after years of building bitcoin businesses, he is shifting focus to the power infrastructure that is increasingly constraining both bitcoin mining and artificial intelligence compute.
The executive's departure highlights a growing trend within the industry where bitcoin miners are repositioning themselves to capitalize on the surging demand for AI compute. As bitcoin mining becomes more commoditized, many companies are pivoting to AI infrastructure, leveraging their expertise in power, land, and data centers. This shift is accelerated by hyperscalers seeking to secure electricity and capacity, allowing mining companies to diversify revenue streams and potentially achieve higher valuations.
Prusak previously served as president of American Bitcoin, a Nasdaq-listed mining company co-founded by Eric Trump and backed by Hut 8. He was a prominent figure in the company's strategy of accumulating bitcoin and expanding its hashrate.
His new employer, Giga Energy, based in Houston, develops and manufactures power equipment and AI data center infrastructure. The company reports having delivered over 6.5 gigawatts of power infrastructure and is developing more than 500 megawatts of AI-ready data center capacity. This move underscores the increasing demand for experienced talent in digital assets as companies seek to secure the energy infrastructure necessary for large-scale AI computing and bitcoin mining.