Trump-Backed American Bitcoin Turns a Profit as Bitcoin Rise Lifts Books

Bullish+17.63%

5 Nov, 18:25

Source: Decrypt

AI Summary

Hut 8 Mining reversed a quarterly loss driven by a $197 million gain on its Bitcoin holdings, underscoring how rising Bitcoin prices are directly boosting miner profitability.

The Hut 8-backed miner reversed a second-quarter loss, driven largely by a $197 million gain on its Bitcoin holdings.