Nov 14 (Reuters) - American Bitcoin ( ABTC ), backed by

two of U.S. President Donald Trump's sons, on Friday reported a

third-quarter profit that more than doubled as the miner and

buyer of the world's largest digital asset benefited from wider

margins.

Crypto has drawn strong interest this year, with investors

betting on looser oversight under the new Trump administration

and bitcoin trading at record levels, even though the token's

rally has slowed in recent weeks.

Eric Trump is American Bitcoin's ( ABTC ) co-founder and chief

strategy officer, while Donald Trump Jr. is a major stockholder

in the company.

"While others paid spot, we generated bitcoin below market

through scalable, asset-light mining operations. Coupled with

disciplined at-market purchases," Eric Trump said in a

statement.

Bitcoin mining uses specialized computers to solve complex

calculations that secure the network and generate new bitcoin.

The company, a majority-owned subsidiary of Hut 8 Corp, is

the latest in a series of crypto ventures by the Trump family,

including a meme coin and World Liberty Financial, a crypto

company partly owned by the president.

The Trump administration has pledged to make the U.S. a

global leader in the crypto space and promised a lighter

regulatory approach.

Trump has also faced criticism from government ethics

experts and political opponents who say his stance raises

concerns about potential conflicts of interest.

Meanwhile, crypto treasuries have also grown quickly this

year as companies add large token holdings to their balance

sheets to capture rising prices.

American Bitcoin ( ABTC ) reported revenue of $64.2 million in the

three months ended September 30, compared with $11.6 million in

the prior-year period.

It held 4,004 bitcoins as of November 5. Based on the

digital asset's previous close, the holding is worth roughly

$400 million.

The company posted a net income of $3.5 million in the third

quarter, compared with a loss of $0.6 million for the prior-year

period.

Its shares ticked up 0.6% in premarket trading after

results.