American Bitcoin Releases Q1 Financial Report: Two Consecutive Quarters of Losses, Q1 Net Loss of $82 Million

According to Bloomberg, the Bitcoin mining company American Bitcoin Corp., supported by the Trump family, has reported its second consecutive quarterly loss. In the first quarter of this year, the company posted a net loss of $82 million, widening from the $59 million loss in the fourth quarter of last year. Revenue fell by approximately 20% to $62 million, reflecting a decrease in the average income per mined Bitcoin. Since its Nasdaq listing last September, the company's stock price has dropped nearly 90% from its peak. American Bitcoin's Chief Strategy Officer Eric Trump stated that increasing holdings is the key focus, with the company accumulating approximately 1,600 Bitcoins in the first quarter, representing a 30% increase in holdings.