ABTC Stock Climbs as American Bitcoin Reports $78M Q4 Revenue
- ABTC stock rose up to 10% in premarket trading, reaching $1.15 from $1.05.
- American Bitcoin reported Q4 revenue of $78.3 million, a nearly 22% increase QoQ.
- The company experienced a Q4 loss of $59.45 million, reversing profit from the previous quarter.
- American Bitcoin mined a total of **783 BTC** in Q4 and increased Satoshis per share by **49%**.
- The firm held **5,401 BTC** at year-end, up from zero at the start of the second quarter last year.
American Bitcoin’s financial results reveal a significant revenue growth despite challenges posed by declining Bitcoin prices and operational losses. The company’s strategy to hold mined BTC contrasts with other miners who liquidated their assets during the downturn.
Overall, American Bitcoin’s performance shows resilience, with a revenue increase of nearly **22% QoQ**, even as it faced a net loss of **$153.2 million** for the year.(Source)
