PANews reported on May 9 that according to Bloomberg, Hut 8, a US Bitcoin mining company, announced its Q1 financial report after cooperating with Trump's son to establish American Bitcoin Corp., with revenue falling nearly 58% year-on-year to US$21.8 million and a loss of US$134.3 million. The company attributed the loss to the impact of Bitcoin halving and the suspension of mining machine upgrades. Despite this, Hut 8 still plans to continue investing in the joint venture project and expand the AI high-performance computing center. The company's stock price rose 17% after the announcement.
Hut 8's revenue plunged 58% in the first quarter, with losses of $134 million
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