American Bitcoin's Q3 net profit approximately $126 million

November 5 - According to PR Newswire, Nasdaq-listed Bitcoin mining company American Bitcoin Corp. (ABTC) announced its Q3 2026 financial results. The company reported a net profit of approximately $126 million for the quarter, compared to a net loss of approximately $57.2 million in the previous quarter; adjusted EBITDA was approximately $221 million, compared to an adjusted EBITDA loss of approximately $45 million in the previous quarter.

In terms of mining, Q3 mining revenue was approximately $63.4 million, slightly down from approximately $67 million in Q2; a total of approximately 891 bitcoins were mined, compared to approximately 932 in Q2. Gross profit was approximately $25.8 million, with a gross margin of approximately 41%, down from approximately 49% in the previous quarter, mainly due to seasonal increases in electricity costs. The mining cost per bitcoin for the quarter was approximately $42,100, compared to approximately $36,500 in the previous quarter. As of September 30, the company owned approximately 89,242 mining machines, with a hash rate of approximately 28.1 EH/s.

In terms of strategic reserves, Bitcoin holdings increased from approximately 8,002 as of June 30 to approximately 8,427, an increase of approximately 425 for the quarter, or approximately 5%; Satoshis Per Share increased from approximately 10,989 to approximately 11,572, an increase of approximately 5%. The company stated that it did not issue additional shares through an ATM program during the quarter, nor did it purchase Bitcoin on the market. Holdings include approximately 3,090 bitcoins pledged under a BITMAIN mining machine purchase agreement. American Bitcoin is a controlled subsidiary of Hut 8 Corp., with co-founder and Chief Strategy Officer Eric Trump.