Bitcoin Miner Partnering With Trump’s Sons Posts Revenue Decline

Bitcoin mining company Hut 8 Corp., which recently partnered with President Donald Trump’s sons on a new venture, said its first-quarter earnings swung to a loss and revenue tumbled by more than 50%.

The Miami-based company posted $21.8 million in revenue for the first quarter, a nearly 58% drop year-over-year. It also recorded a quarterly loss of $134.3 million compared to net income of $250.7 million in the first quarter of last year.