Trump Family-Linked American Bitcoin (ABTC) Posts Q3 Profit, Doubles Revenue
CoinDesk
American Bitcoin, linked to the Trump family, reported a Q3 profit and fivefold revenue surge as it expanded capacity.Summary
Bitcoin miner American Bitcoin (ABTC), in which Donald Trump Jr. and Eric Trump hold a 20% stake, announced a third-quarter profit of $3.47 million, reversing a loss from the prior year. Revenue surged fivefold to $64.2 million for the period, which marked its first full quarter as a standalone public company following a merger with Gryphon Digital Mining and a spin-out from Hut 8's operations (Hut 8 retains about 80%). Despite the strong financial results driven by expanded mining capacity (reaching 25 EH/s), the company's shares dropped over 13% in pre-market trading, mirroring a 7% drop in the price of Bitcoin.
(Source：CoinDesk)