American Bitcoin, the new bitcoin mining company backed by brothers Eric and Donald Trump Jr., got a nice deal recently from Bitmain, the global leader in mining equipment, according to recent filings.
Why it matters: The generous terms raised questions about preferential treatment, but it also underscores a reality — amid a booming bitcoin market, the mining business that underpins it is tougher than ever.
Catch up quick: The Guardian first reported last week that American Bitcoin received a remarkably patient deal from China-based Bitmain — it bought 16,299 machines in exchange for a pledge to provide $314 million worth of bitcoin within two years.
Read also:
Chinese company gives an Eric Trump crypto firm preferential access to tech, The Guardian
