American Bitcoin President Matt Prusak Makes Bold Exit in 2026

Matt Prusak, president and interim chief financial officer of Nasdaq-listed American Bitcoin (ABTC), is stepping down effective August 4, 2026, to join Houston-based AI infrastructure firm Giga Energy as chief business officer and interim CFO. He notified American Bitcoin, the Eric Trump-backed mining company, of his decision on July 30. The move reflects a widening shift of executive talent from bitcoin mining toward the power infrastructure now underpinning both crypto mining and artificial intelligence data centers.

Why American Bitcoin President Matt Prusak Is Leaving

Matt Prusak framed his exit as a deliberate move up the power supply chain rather than a break with the company. He said he is shifting focus toward the power infrastructure that now limits growth in both bitcoin mining and AI compute, after years spent building mining businesses and buying power capacity across hundreds of megawatts. At Giga, he said his job will involve identifying the highest-leverage infrastructure opportunities as demand for electricity accelerates.

American Bitcoin Appoints Replacement Following Prusak's Departure

American Bitcoin named Paul Sacks, its head of derivatives since May, as interim CFO starting August 4. The company has not yet named a permanent president or CFO. Sacks previously co-headed digital exotics trading at BlockFills. The leadership change was disclosed alongside American Bitcoin's second-quarter results, which showed $67 million in revenue and a $57.2 million net loss.

What Matt Prusak's Move Signals for Giga Energy's Growth

Giga Energy, which says it has delivered more than 6.5 gigawatts of power infrastructure, is expanding its AI data center business. Prusak's dual business and finance mandate suggests the company is scaling both dealmaking and capital management as competition for power capacity intensifies among miners and AI developers alike.

The departure underscores tightening competition for electricity supply, a resource increasingly shared between bitcoin miners and AI data center operators, and may pressure smaller miners lacking power access.

Expect more executive migration from mining firms to power and AI infrastructure providers as the sector's core bottleneck shifts from hardware to energy capacity.

Industry watchers note that Matt Prusak's move mirrors a broader repositioning of mining expertise toward AI infrastructure, as miners with land, power contracts, and site development experience become attractive hires for computer-hungry AI firms.