American Bitcoin Q3 profit rises on Bitcoin gains
6.6 Investments American Bitcoin posted $126M Q3 profit, mainly from a $197.3M gain on Bitcoin holdings. Mining revenue and margins fell due to higher energy costs and fewer BTC mined. Operational mining had a small loss.
American Bitcoin Corp. reported a net income of approximately $126 million for Q3 2026, a significant turnaround from a loss in the previous quarter. This improvement was mainly due to a $197.3 million non-cash gain from the appreciation of its Bitcoin holdings, as Bitcoin’s price surged by about 39% during the quarter. Mining revenue fell to $63.4 million from $67 million in Q2, with the company mining 891 BTC, down from 932 BTC previously. Gross margin declined from 49% to 41%, and the cost to mine one BTC rose to $42,100, primarily due to higher seasonal energy costs. The company increased its Bitcoin reserve by 425 BTC to 8,427 BTC, achieving a 5% rise in Satoshis Per Share without issuing new shares or buying Bitcoin on the open market. Despite strong net income, operational mining posted a small loss, and 465 BTC were sold to cover costs. Management cautioned that future results may be affected by Bitcoin price volatility and rising energy costs.
