BlockBeats News, May 9th, according to Bloomberg, the U.S.-based Bitcoin mining firm Hut 8, after establishing the American Bitcoin Corp. in partnership with Trump's son, released its Q1 financial report. The company's revenue decreased by nearly 58% year-on-year to $21.8 million, with a net loss of $134.3 million. The company attributed the loss to the Bitcoin halving and the impact of mining machine upgrade downtime. Nevertheless, Hut 8 still plans to continue investing in the joint venture project and expand its AI high-performance computing center. After the news was announced, the company's stock price rose by 17%.
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