American Bitcoin swings to $126 million Q3 profit on digital asset gains
Trump family-backed miner American Bitcoin returned to profitability in the third quarter of 2026 with $126 million in net income, ending three straight quarters of losses primarily through gains on its bitcoin holdings.
American Bitcoin Corp. posted a net income of approximately $126 million for the third quarter of 2026, rebounding from a $57.2 million net loss in the second quarter and snapping three consecutive quarters in the red, according to company statements reported by Bloomberg and Unchained. The turnaround occurred despite broader operational headwinds, putting the Eric Trump-backed company under fresh attention following decisive Democratic victories in the midterm elections.[5][6][7]
The quarterly turnaround was powered by treasury revaluations rather than core mining operations. According to Unchained, American Bitcoin recorded a $197.3 million gain on digital assets for the quarter, alongside a $64.3 million loss on derivatives. Excluding the digital-asset paper gain, the company's reported $127.6 million pre-tax income would have translated into a pre-tax loss of about $69.8 million. Adjusted EBITDA reached about $221 million, as the company's accounting formula adds back derivatives losses and depreciation without stripping out digital-asset gains.[2][6]
Operationally, mining performance declined across several key indicators. Third-quarter mining revenue slipped 5.4% quarter over quarter to $63.4 million, while total production dropped 4.4% to roughly 891 bitcoin. Higher seasonal power costs pushed the cost to mine each bitcoin up roughly 15% to about $42,100, which narrowed gross mining margins to 41% from 49%.[4][6]
Total bitcoin holdings rose about 5% from 8,002 BTC at the end of June to 8,427 BTC by Sept. 30, including roughly 3,090 BTC pledged under miner purchase agreements with Bitmain. The company, a majority-owned subsidiary of Hut 8 that completed a 1-for-15 reverse stock split in July, noted that it sold part of its quarterly production to fund operations and neither issued shares nor purchased bitcoin on the open market.[1][3][4][6]
Key facts
- American Bitcoin reported Q3 2026 net income of $126 million, swinging from a net loss of $57.2 million in Q2 and ending three straight quarters of losses.
- The profit was driven by a $197.3 million gain on digital assets; without it, pre-tax income of $127.6 million would have been a pre-tax loss of approximately $69.8 million.
- Q3 mining revenue decreased 5.4% quarter over quarter to $63.4 million, and output dropped 4.4% to approximately 891 BTC.
- Production cost per bitcoin rose about 15% to $42,100 due to higher seasonal power costs, narrowing gross mining margin from 49% to 41%.
- Bitcoin reserves grew by 425 BTC to 8,427 BTC at the end of September, which includes about 3,090 BTC pledged under purchase agreements with Bitmain.
- American Bitcoin is co-founded by Eric Trump and operates as a majority-owned subsidiary of Hut 8.
Sources · 7 sources
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Decrypt@DecryptMediaPost on X ·
American Bitcoin Posts $126M Q3 Profit as Holdings Reach 8,427 BTC. The Nasdaq-listed miner said it mined about 891 bitcoin in the third quarter, booked roughly $63.4 million in mining revenue, and added about 425 BTC to holdings that include 3,090 BTC pledged to Bitmain. https://t.co/tSulSSswJ6
Open source - CB
Crypto BriefingArticle ·
American Bitcoin reports Q3 mining revenue of $63.4M, swings to $126M profit American Bitcoin's profit surge highlights the volatility of relying on asset value fluctuations, underscoring operational challenges and strategic risks. The post American Bitcoin reports Q3 mining revenue of $63.4M, swings to $126M profit appeared first on Crypto Briefing .
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🔥 NOW: Eric Trump’s American Bitcoin posts Q3 2026 results with 8,427 $BTC in reserve, up about 5% from Q2, plus ~891 $BTC mined and $63.4M in revenue. https://t.co/1FOkmj0s0v
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: American Bitcoin reported Q3 mining revenue of $63.4 million, down 5.4% from Q2, while net income swung to $126 million from a $57.2 million net loss. The Eric Trump-led company mined about 891 BTC, down 4.4% quarter on quarter, while increasing its bitcoin holdings by roughly 5% to 8,427 BTC at the end of September.
Open source - BL
Bloomberg@businessPost on X ·
American Bitcoin, one of the Trump family-backed companies in the spotlight after Democrats won a decisive victory in the midterm elections, said Wednesday that it registered a profit after three consecutive quarterly losses https://t.co/KYxFZbv8cj
Open source - UN
UnchainedArticle ·
American Bitcoin’s $126 Million Quarterly Profit Comes From Its Bitcoin Treasury Gain American Bitcoin Corp. (Nasdaq: ABTC), the bitcoin miner co-founded by Eric Trump, reported net income of about $126 million for the third quarter of 2026 on Nov. 4, after a net loss of about $57.2 million in the second quarter. The statement of operations, also filed with the SEC , shows the turnaround came from the value of the bitcoin the company holds. It booked a $197.3 million gain on digital assets for the three months ended Sept. 30, compared with a $71.2 million loss on those holdings in the prior quarter. It also recorded a $64.3 million loss on derivatives. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . Results Without the Bitcoin Gain Without the digital-asset gain, American Bitcoin would have posted a pre-tax loss of about $69.8 million , by Unchained’s calculation from the company’s own figures. Its reported pre-tax income was $127.6 million. Adjusted EBITDA of about $221 million came in above net income because, under the company’s definition, the measure adds back the derivatives loss, depreciation, taxes and stock compensation but does not strip out gains on digital assets. Eric Trump, the company’s co-founder and chief strategy officer, said in the release that “this quarter, we delivered approximately $126 million in net income and $221 million in Adjusted EBITDA” while growing the company’s bitcoin reserve. He called them “significant results, particularly in a challenging digital asset market.” Mining Output and Margins Fell American Bitcoin mined about 891 bitcoin , down from about 932 in the second quarter, and mining revenue slipped to about $63.4 million from about $67.0 million. Gross margin narrowed to about 41% from about 49%. Producing each bitcoin cost about $42,100 , roughly 15% more than the $36,500 it cost in the second quarter. The company attributed it mainly to higher seasonal power costs at its sites. Holdings rose to about 8,427 bitcoin at Sept. 30 from about 8,002 at June 30, a figure that includes about 3,090 bitcoin pledged under miner purchase agreements with Bitmain. The 425-bitcoin increase was less than half of the quarter’s output; the company said it sold a portion of production to cover operating costs. The number of satoshis backing each share, a metric the company tracks, rose about 5% to roughly 11,572. The company said it neither issued shares through its at-the-market program nor bought bitcoin during the quarter. American Bitcoin, a majority-owned subsidiary of Hut 8, carried out a 1-for-15 reverse stock split in July after its shares fell more than 95% from their peak. Its second-quarter results in August included a record 932 bitcoin mined. Related Listen: Strategy Had a Massive Quarter: Impressive Numbers, But Are They Sustainable? The post American Bitcoin’s $126 Million Quarterly Profit Comes From Its Bitcoin Treasury Gain appeared first on Unchained .
Open source - TB
The BlockArticle ·
Eric Trump’s American Bitcoin swings to $126 million profit in Q3 on digital asset gains American Bitcoin reported Q3 net income of $126 million, swinging from a $57.2 million net loss in the previous quarter.
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