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The Trump family-associated mining firm ABTC has once again reported a quarterly loss, but the loss has narrowed.

BlockBeats News, May 7th, American Bitcoin (ABTC), a Bitcoin mining company supported by Eric Trump, son of former President Donald Trump, released its latest financial report. The company posted a loss for the second consecutive quarter, but thanks to the growth in Bitcoin mining revenue, the loss narrowed compared to the previous period.


According to reports, American Bitcoin improved its financial performance in the current cryptocurrency market downturn by enhancing mining operation efficiency. However, the company's performance still heavily relies on Bitcoin's price trend. Previously, the company suffered a significant stock price drop due to the crypto market correction.


In the fourth quarter of last year, American Bitcoin recorded a loss of about $59 million, with its stock price plummeting by about 90% from its peak. American Bitcoin was established by Hut 8 with the support of Eric Trump and Donald Trump Jr., and is considered a key part of the Trump family's crypto business.

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