Companies5 Nov, 23:20 UTCUnited States

American Bitcoin reports $126 million third-quarter profit as bitcoin value rises

American Bitcoin Corp. posted a $126 million profit for the third quarter, helped by a higher bitcoin price. Its mining business faces pressure as rivals turn to AI.

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Photo: Marko Ahtisaari, CC BY 2.0, via Wikimedia Commons

Companies · 5 Nov, 23:20 UTC

American Bitcoin Corp. reported a profit of $126 million for the third quarter. The company is backed by Trump. The rise in the value of bitcoin lifted its books.

Companies

The profit came mainly from the higher price of bitcoin, not only from mining itself. A rising price raises the value of coins a company holds.

In numbers

$126 millionThird-quarter profit

Bitcoin, the past month

$75,972down −11.41%

Companies

The results also show pressure on the mining business. Some rival miners are turning to AI work instead.

The material does not give further figures on revenue or mining output.

Bitcoin$75,972down −11.41%over 1 month

Prices by CoinGecko. Past moves say nothing about future ones.

$1,000 in Bitcoin

Had you put Amount in dollars$ into Bitcoin a month ago, it would be worth – now.

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Where: United States
Published: 5 Nov, 23:20 UTC
Section: Companies
Markets: Bitcoin

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Photo: Marko Ahtisaari, CC BY 2.0, via Wikimedia Commons

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