Trump Family-Linked American Bitcoin (ABTC) Posts Q3 Profit, Doubles Revenue

American Bitcoin (ABTC), a Bitcoin mining company partly owned by Donald Trump Jr. and Eric Trump, reported a third-quarter profit, with revenue more than doubling compared to the previous year. The company's net income reached $3.47 million, recovering from a loss of $576,000 in the same quarter last year. Revenue surged fivefold, totaling $64.2 million, as the company expanded its mining capacity and completed its first full quarter as a public entity after spinning off from Hut 8. Despite these positive developments, shares fell 13% in pre-market trading as the price of Bitcoin dropped 7% in a 24-hour period. ABTC's Bitcoin holdings increased to 4,004 BTC, with mining capacity expanded to 25 exahash per second during the quarter, indicating significant growth for the firm in a competitive market.

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