Trump-backed miner ABTC posts losses for second straight quarter

American Bitcoin (ABTC), a Bitcoin mining company linked to the family of U.S. President Donald Trump, has recorded losses for two consecutive quarters. The company's first-quarter loss amounted to $82 million, an increase from the $59 million loss reported in the previous quarter. ABTC was founded by Hut 8 with backing from Eric Trump and Donald Trump Jr.