Deep Tide TechFlow News, February 26 — According to Bloomberg, the mining company supported by the Trump family, American Bitcoin, reported a net loss of $59 million in the fourth quarter. Due to a write-down of the company’s Bitcoin holdings, it recorded an unrealized loss of $227 million for the year. Since its peak in September, the company’s market value has evaporated by nearly 90%. Notably, American Data Centers, supported by Trump’s sons, was originally designed as an AI infrastructure provider before becoming part of American Bitcoin.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Trump family-supported mining company American Bitcoin posts a $59 million loss in Q4
Deep Tide TechFlow News, February 26 — According to Bloomberg, the mining company supported by the Trump family, American Bitcoin, reported a net loss of $59 million in the fourth quarter. Due to a write-down of the company’s Bitcoin holdings, it recorded an unrealized loss of $227 million for the year. Since its peak in September, the company’s market value has evaporated by nearly 90%. Notably, American Data Centers, supported by Trump’s sons, was originally designed as an AI infrastructure provider before becoming part of American Bitcoin.