Eric Trump’s American Bitcoin Banks $126M Profit—But ABTC Shares Dive

American Bitcoin Corp., the bitcoin mining company co-founded by Eric Trump, reported approximately $126 million in third-quarter net income and $221 million in adjusted EBITDA, reversing losses from the preceding quarter. The Nasdaq-listed company expanded its holdings to 8,427 BTC, ranking 13th among publicly traded corporate bitcoin holders. However, mining costs climbed 15.3%, production declined 4.4%, and gross margins narrowed as seasonal electricity expenses weighed on operations. American Bitcoin Corp. (Nasdaq: ABTC) reported approximately $126 million in third-quarter net income and $221 million in adjusted EBITDA on Wednesday, Nov.

Source: Bitcoin.com News