✉news BusinessCrypto first seen 1 d ago, last 20 h ago, peak #4
American Bitcoin Posts $126 Million Profit on Holdings Gains
Original: American Bitcoin (ABTC) Posts $126 Million Profit as Holdings Gain $197 Million
American Bitcoin (ABTC) reported a $126 million profit, with its bitcoin holdings gaining $197 million in value. The figures were announced by Bitcoin Magazine, which covers the cryptocurrency industry. The results underline how the company's performance is tied directly to the appreciation of its bitcoin reserves rather than operating revenue, a model increasingly common among publicly listed crypto-holding firms.
Why now: The company just released quarterly results showing large gains driven by rising bitcoin prices.
American Bitcoin (ABTC)Bitcoin MagazineBitcoin
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