Core Viewpoint - Bit Mining (BTCM) has shown a significant increase in net profit despite a decline in total revenue, indicating a potential shift in operational efficiency and profitability strategies [1] Financial Performance - As of December 31, 2024, Bit Mining reported total revenue of $32.92 million, a year-over-year decrease of 23.62% [1] - The company achieved a net profit attributable to shareholders of $12.07 million, reflecting a substantial year-over-year increase of 142.05% [1] Business Operations - Bit Mining is recognized as one of the leading publicly traded cryptocurrency mining companies globally, with operations that include cryptocurrency mining, mining pools, and data center management [1] - The company possesses a theoretical hash rate of 1,425.3 PH/s and operates the entire mining pool business under BTC.com, which includes the domain BTC.com and its cryptocurrency wallet [1] - As part of its growth strategy, the company prioritizes the development of low-carbon energy and aims to expand its data center and hash computing capabilities globally to strengthen its industry leadership [1]

Group 1 - A company associated with the Trump family, focused on Bitcoin operations, will go public through a merger with Gryphon Digital Mining [1] - The merger will be an all-stock transaction, with the new company retaining the brand of American Bitcoin Corp and expected to list on NASDAQ under the ticker "ABTC" [1] - Following the announcement, Gryphon's stock price surged by 420% in pre-market trading, reaching approximately $1.98 per share [1] Group 2 - Post-merger, existing shareholders of American Bitcoin Corp are expected to hold about 98% of the new company [2] - The new company will be led by the board and management team of American Bitcoin Corp, with Eric Trump continuing as Chief Strategy Officer [2] - The CEO of Hut 8 Corp stated that this transaction marks a significant step for American Bitcoin Corp, enabling it to become a large-scale, low-cost Bitcoin accumulation platform [2]