Foresight News reports that American Bitcoin, a mining company supported by the Trump family, announced a fourth-quarter loss of $59 million. Due to a write-down of the company’s Bitcoin reserves, it recorded an unrealized loss of $227 million for the year. Since its peak in September, the company’s market value has evaporated by nearly 90%.
It is worth noting that American Data Centers, supported by Trump’s sons, was originally designed as an artificial intelligence infrastructure provider before becoming part of American Bitcoin.
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