Funding
American Bitcoin Posts $126 Million Profit
American Bitcoin Corp., a majority-owned subsidiary of Hut 8 Corp., reported a $126 million profit in the third quarter, reversing a $57.2 million loss in the previous quarter. The company's $197.3 million gain on its bitcoin holdings contributed to the profit, while mining revenue was about $63.4 million, down from $67.0 million in the second quarter. The company's co-founder and chief strategy officer, Eric Trump, highlighted the growth in the bitcoin reserve and bitcoin per share, maintaining mining at a structural discount to spot markets.