American Bitcoin released its Q1 financial report: Two consecutive quarters of losses, with a net loss of $82 million in Q1.

CoinFeed reported on May 7th that, according to Bloomberg, American Bitcoin Corp., a Bitcoin mining company backed by the Trump family, suffered its second consecutive quarterly loss, posting a net loss of $82 million in the first quarter of this year, widening from a $59 million loss in the fourth quarter of last year. Revenue fell by about 20% to $62 million, reflecting a decrease in average revenue per Bitcoin mined. Since its Nasdaq listing last September, the company's stock price has fallen nearly 90% from its peak. Eric Trump, Chief Strategy Officer of American Bitcoin, stated that increasing holdings is key; the company accumulated approximately 1,600 Bitcoins in the first quarter, representing an increase of about 30%.