According to a report by Bloomberg on May 9, the American Bitcoin mining company Hut 8 announced its Q1 financial report after partnering with Trump's son to establish American Bitcoin Corp. Revenue declined nearly 58% year-on-year to $21.8 million, and the company recorded a loss of $134.3 million. The company attributed the losses to the Bitcoin Halving and the impact of Mining Rig upgrades being halted. Nevertheless, Hut 8 still plans to continue investing in the joint venture and expand its AI high-performance Computing Power center. Following the announcement, the company's stock price rose by 17%.

BTC3.17%
TRUMP0.39%
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