Two of President Trump’s sons announced on Monday that they were investing in a new Bitcoin mining venture, an expansion of the family’s business interests in the crypto industry.

Eric Trump and Donald Trump Jr. said they would join forces with the Bitcoin mining company Hut 8 to create a firm called American Bitcoin. Bitcoin mining is a lucrative branch of the crypto industry, in which large companies run energy-guzzling machines that help process Bitcoin transactions.

“From the start, we’ve backed our conviction in Bitcoin, personally and through our businesses,” Donald Trump Jr. said in a statement. “But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity.”

Under the terms of the deal, Hut 8 will control 80 percent of the new company, with the other 20 percent going to a business entity called American Data Centers Inc. whose investors include the two Trump sons. The announcement on Monday by Hut 8 listed Eric Trump as a co-founder of the new mining venture and said he would serve as its chief strategy officer.

The mining project is the third major crypto venture that the Trump family has started over the past year. During the campaign, Donald Trump and his sons launched a crypto company, World Liberty Financial, that offers two types of digital currencies, including a so-called stablecoin unveiled last week.

Then, on the eve of Mr. Trump’s inauguration, he and his wife, Melania Trump, each launched a memecoin, a type of cryptocurrency based on an online joke or mascot.