American Bitcoin (NASDAQ: ABTC), the cryptocurrency mining firm backed by Eric Trump and Donald Trump Jr., reported a strong third quarter.

American Bitcoin posted revenue of $64.2 million, a 453% year-over-year increase, while net income soared to $3.47 million, reversing a $576,000 loss in the same period last year. 

The Miami-based miner, which became a standalone public entity after spinning out from Hut 8 and merging with Gryphon Digital Mining, has aggressively scaled its operations. 

During Q3, American Bitcoin expanded its mining capacity roughly 2.5 times to 25 exahash per second (EH/s), with its fleet achieving an efficiency of 16.3 joules per terahash… Read more on BitcoinMagazine