American Bitcoin, backed by Trump's sons, swings to Q2 loss

ABTC American Bitcoin Corp

$5.13 -3.21%

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UMBF -0.58% HUT -0.44%

1. 1American Bitcoin (ABTC), backed by President Trump's two sons, swung to a quarterly loss in Q2 amid selling pressure in the cryptocurrency market.
2. 2Net loss for the quarter came in at $57.2 million, reversing a $3.4 million profit a year earlier, while revenue rose to roughly $67 million from $30.3 million in the year-ago period.
3. 3Bitcoin prices fell more than 11% during the April–June quarter, even as mining output set a quarterly record at approximately 932 coins.

Source The Wall Street Journal +5 · View original ↗

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