Trump-Backed American Bitcoin Posts Third Straight Quarterly Loss

American Bitcoin Corp., a bitcoin miner and treasury company backed by Eric Trump and Donald Trump Jr., posted its third consecutive quarterly loss, despite record mining output and a growing bitcoin reserve.

The Miami-based company reported a net loss of $57.2 million for the second quarter, compared to a profit of $3.4 million in the same period last year.

The results were weighed down by a $71.2 million loss on digital assets, but revenue rose to about $67 million from $30.3 million in the previous year's second quarter.