Content overview: “American Bitcoin, Backed by Trump Family, Swings to $126M Profit but Misses Q3 Revenue as ”. American Bitcoin, a crypto mining venture with ties to the Trump family, reported a net profit of $126 million for the third quarter, a sharp turnaround from a loss a year earlier. The swing was driven by a significant gain in the fair value of its bitcoin holdings as the digital asset’s price surge The swing was driven by a significant gain in the fair value of its bitcoin holdings as the digital asset’s price surged.
However, revenue fell to $63.4 million, missing Wall Street forecasts, as production declined and operational costs climbed. The company cited higher summer electricity prices, which squeezed mining margins, and a drop in the number of bitcoins mined compared to the previous quarter. For the complete material, the listing points back to the source inside the network.