What's Going On With Dominari Holdings Stock Monday?

Dominari Holdings Inc DOMH shares are trading lower. The company on Monday announced a Bitcoin BTC/USD mining deal with Hut 8 Corp HUT and priced a registered direct offering.

What Happened: Dominari Holdings announced that its subsidiary American Data Centers Inc. partnered with Hut 8 to form American Bitcoin Corp. In partnership with Hut 8, the company will focus on industrial-scale bitcoin mining and strategic bitcoin reserve development.

Hut 8 exchanged substantially all of its ASIC miners to American Data Centers for a majority interest in the company. All bitcoin mining operations previously reported under Hut’s “Compute” segment will now operate under the American Bitcoin brand. 

Dominari Holdings shares soared last month after Donald Trump Jr. and Eric Trump joined the company’s board and reported separate stakes of 6.71% in Dominari Holdings as of Feb. 18.

“Their guidance is expected to be instrumental as we continue to seek attractive investment opportunities, particularly in the rapidly evolving AI and Data Center sector,” CEO Kyle Wool said last month.

See Also: Trump Family To Dive Into Bitcoin Mining After DeFi, Meme Coin Projects

Dominari announced Monday that Eric Trump will become the co-founder and chief strategy officer of American Bitcoin Corp.

DOMH Price Action: Dominari Holdings shares were down 11.90% at $4.21 at the time of publication Monday, according to Benzinga Pro.

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