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Trump-Backed American Bitcoin Reports Second-Quarter Loss

Guavy AI Editorial Team
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BTC
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American Bitcoin, backed by two of U.S. President Donald Trump's sons, reported a second-quarter loss due to market volatility and a selloff in Bitcoin prices.

The company saw its holdings in Bitcoin grow by 14% in the quarter, reaching over 8,000 units, while its mining operations pushed quarterly production to a record with about 932 Bitcoins mined.

Despite this, the company's revenue jumped to around $67 million from $30.3 million a year earlier, but net loss was $57.2 million compared to a profit of $3.4 million in the same period last year.

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