American Bitcoin Corp (NASDAQ:ABTC) saw a 15.57% drop on Monday, closing at $3.58 per share due to a decline in its major asset. Bitcoin also fell 0.058% to around $86,000, a 21.6% decrease from the $110,000 level in the past month. Despite this, American Bitcoin Corp reported a net profit of $3.47 million, a significant improvement from a net loss of $576 million last year, with revenues increasing by 453% to $64.22 million. The company’s Chief Strategy Officer emphasized their strategy of capital-efficient Bitcoin accumulation. American Bitcoin Corp is an accumulation platform majority owned by Hut 8 Corp.

Read more at Yahoo Finance: American Bitcoin (ABTC) Falls 15%, Mirrors Crypto Drop