Update
American Bitcoin Turns a Profit
American Bitcoin, a Trump-family-backed mining venture, reported a profit of about $126 million in the third quarter, reversing a $57.2 million loss in the second quarter. The profit was driven by a $197 million gain on its Bitcoin holdings, as Bitcoin's value rose during the period. The company grew its Bitcoin reserve to about 8,427 BTC, up from 8,000 BTC at the end of June, and lifted its 'satoshis per share' by about 5%. The company did not buy any Bitcoin or issue new shares during the quarter, relying instead on its own mining output.