Bitcoin Magazine: Rumble Cuts Bitcoin Holdings by About Two-Thirds in Q3, Posts First Positive Adjusted EBITDA
According to Bitcoin Magazine, RUM Group, the parent company of Rumble, held 94.68 Bitcoin as of September 30, down from 293.14 Bitcoin at the end of June, representing a quarterly reduction of approximately two-thirds. Driven by its Quake AI business, the company reported third-quarter revenue of $96.6 million and an adjusted EBITDA of $4.4 million, turning positive for the first time, while recording a GAAP net loss of $89.9 million for the same period. The company did not explain the reasons for the coin sales or disclose the execution prices in its earnings release.
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