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Trump-linked American Bitcoin swings to $126 million profit but misses revenue estimates
Headline from CoinDesk
Key points
- American Bitcoin reported a third-quarter profit of $126 million, reversing a loss from the prior year.
- However, revenue dropped to $63.4 million, falling short of analyst expectations.
- The revenue decline was driven by reduced bitcoin production and elevated summer electricity expenses that increased mining costs for the Donald Trump-linked cryptocurrency mining company during the period.
Summarized automatically by Kryptokite from reporting by CoinDesk. Read the original sources for full detail.
Coins mentioned
Sources
- CoinDeskTrump-linked American Bitcoin swings to $126 million profit but misses revenue estimates · 26 hours agoRead on CoinDesk
Story timeline
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