American Bitcoin: The Market Pays Almost Nothing For The Mining Business
Seeking Alpha rates American Bitcoin Buy with an $11 12-month target, noting that it was the lowest-cost listed miner in Q2 and generated about $26 million of cash profit in a weak quarter. The article says ABTC shares trade below the value of its Bitcoin holdings, citing dilution risk, related-party fees to Hut 8, and liquidity constraints.
Why it matters — The article highlights both ABTC’s Q2 mining economics and the risks the author says weigh on the value of its shares.