Autor Cointelegraph by Vince Quill

American Bitcoin (ABTC), a publicly traded mining company co-founded by United States President Donald Trump’s sons, has completed its energization of 11,298 application-specific integrated circuits (ASICs) at its Drumheller site in Alberta, Canada. Following the acquisition of machines, the company now owns about 89,242 ASICs, the computers used to mine Bitcoin (BTC) and other proof-of-work (PoW) cryptocurrencies, according to the company’s announcement on Wednesday.ABTC’s mining fleet now generates a total of about 28.1 exahashes per second (EH/s) of computing power, operating at an “average efficiency” of 16 joules per terahash, the company said.Shares of ABTC surged by about 11.7% on Wednesday, rising to about $1.38 per share, according to data from Yahoo Finance.ABTC’s share price surged following the announcement. Source: Yahoo FinanceThe announcement followed a tough business quarter for the company, which posted a loss of $59.5 million in the fourth quarter of 2025, as the mining industry grapples with multiple economic challenges that are chipping away at revenue.Related: Aluminum giant Alcoa to sell dormant smelter to Bitcoin miner NYDIG: ReportABTC struggles amid challenging business environment for minersMining companies are grappling with reduced block rewards since the April 2024 halving, rising energy costs, and declining crypto prices from the ongoing crypto bear market.The price of BTC declined by over 50%, reaching a low of about $60,000 in February, when ABTC filed its Q4 results with the United States Securities and Exchange Commission (SEC).ABTC attributed its Q4 losses to a $227.1 million decline in the fair value of its BTC holdings as a result of the crash, but said it was able to “mine BTC at a 53% discount” to prices on the spot market.American Bitcoin’s total reserve holdings of Bitcoin and Satoshis, the smallest unit of BTC, per share. Source: Company filingPublic BTC mining companies sold more BTC in the first three months of 2026 than all of 2025. Mining companies MARA, CleanSpark, Riot, Cango, Core Scientific and Bitdeer collectively sold about 32,000 BTC in Q1, according to TheEnergyMag.Sales in the period topped the previous record of 20,000 BTC sold by public mining companies during Q2 2022.Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin miningCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Robinhood Ventures Fund I (RVI), a publicly traded closed-end fund that offers retail investors access to private equity investments, announced a $75 million investment in OpenAI.The company announced on Wednesday that it purchased $75 million of the AI developer’s common stock, which will be used as the underlying asset to give Robinhood clients price exposure to OpenAI via the fund’s venture tokens.The investment is “one of RVI’s largest investments to date,” according to RVI president Sarah Pinto, who added that the tokens aim to democratize access to private investing.Shares of RVI were trading more than 14% higher on Wednesday, to $27.85 at the time of publication, according to data from Yahoo Finance. Source: Yahoo FinanceRobinhood’s private equity tokens for retail investors have raised regulatory questions about the legal rights of token holders and how price exposure through tokens differs from holding private equity in a company, which is reserved for qualified investors.Related: ARK buys $13M in Robinhood as US Treasury taps platform for Trump AccountsRobinhood announces private equity tokens for retail, but legal issues aboundRobinhood distributed OpenAI and SpaceX tokens to users in June 2025 as part of its rollout of tokenized stock trading for users in the European Union.However, OpenAI immediately responded to the announcement, warning that the tokens do not represent a private equity stake in the company.“These ‘OpenAI tokens’ are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it,” OpenAI said at the time. “Any transfer of OpenAI equity requires our approval — we did not approve any transfer.”John Murillo, chief business officer of financial technology company B2BROKER, told Cointelegraph that investors holding these private equity tokens must understand that they do not hold “actual shares” in these companies.Customers may be entitled to payouts if the underlying shares of the private equity companies increase, but the tokens are strictly a financial instrument created by a third party and not equity, according to Murillo.“There is no direct claim on company assets, no voting rights and no access to internal financial information,” Murillo said.A request for comment sent to Robinhood by Cointelegraph was not immediately replied to.Magazine: Robinhood’s tokenized stocks have stirred up a legal hornet’s nestCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy