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ABTC Stock Jumps 5% Despite $57M Q2 Loss as Company Settles DOJ Dispute

Guavy AI Editorial Team
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BTC ABT
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Shares of American Bitcoin Corp (NASDAQ: ABTC) rose over 5% on Wednesday after the company disclosed a $2.5 million settlement tied to a Paycheck Protection Program (PPP) loan dispute inherited through its merger with Gryphon Digital Mining.

The settlement resolves a Justice Department dispute that dates back to the period when Gryphon operated as a software provider serving the cannabis industry.

In its quarterly earnings report, American Bitcoin Corp also announced record 932 Bitcoin production in Q2 and expanded its treasury above 8,000 BTC.

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