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American Bitcoin’s $126M profit masks mining pressure as rivals turn to AI

By Cointelegraph by Jona Jaupi

The Eric Trump-backed miner reported $126 million in quarterly net income, largely driven by gains on its Bitcoin holdings, despite rising mining costs and shrinking margins.

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

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Artificial intelligence

Computer systems that perform tasks that normally require human intelligence, such as understanding language, recognising images or making decisions.

AI is changing work, media and public services, raising questions about jobs, safety and regulation.

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