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Trump Brothers-Backed American Bitcoin Reports Second-Quarter Loss

Guavy AI Editorial Team
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Donald Trump's sons-backed American Bitcoin saw a loss in its second-quarter earnings due to market volatility and selloffs in cryptocurrency prices.

The company, which focuses on mining, reported a net loss of $57.2 million for the quarter, compared to a profit of $3.4 million in the same period last year.

Despite the loss, American Bitcoin's revenue jumped to around $67 million from $30.3 million in the previous year.

The company mined about 932 Bitcoins during the second quarter, setting a record for production.

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