American Bitcoin (ABTC) Posts $126M Q3 Profit on BTC Gains

By Nodora News · 5 November 2026

American Bitcoin (Nasdaq: ABTC) posted a $126 million Q3 Bitcoin mining profit on digital asset gains, while mining revenue missed estimates.

American Bitcoin Corp. (Nasdaq: ABTC), the bitcoin mining company co-founded by Eric Trump and majority-owned by Hut 8 (HUT), reported a roughly $126 million net profit for the third quarter of 2026 after the market close on Wednesday, November 4, reversing a Q2 net loss of about $57.2 million, according to the company's earnings release and follow-up coverage from CoinDesk and The Block.

Key takeaways

• Net income of about $126 million ($125,987k in the statements) versus a ~$57.2 million loss in Q2
• Swing driven largely by a $197.3 million accounting gain on digital assets (versus a $71.2 million loss in Q2)
• Adjusted EBITDA of about $221 million ($220.8M) versus an Adj. EBITDA loss of ~$45 million in Q2
• Mining revenue ~$63.4 million (down from ~$67.0M in Q2), missing ~$74 million analyst average; EPS $1.73 versus a 26c estimate
• Mined ~891 BTC (vs ~932 in Q2); holdings rose to ~8,427 BTC with no purchases and no ATM share issuance
• Fleet ~89,242 miners and ~28.1 EH/s at quarter-end; strategy remains mine-and-hold

American Bitcoin Q3 profit swung on digital asset gains

The Miami-based miner said quarterly net income landed near $126 million after a second-quarter loss. Management pointed to fair-value accounting on its bitcoin stack as the main swing factor: a $197.3 million gain on digital assets in Q3, compared with a $71.2 million mark-to-market loss in Q2.

Adjusted EBITDA, which strips out certain non-cash items, came in at about $220.8 million after a roughly $45 million adjusted loss a quarter earlier. That accounting-heavy profit print sits alongside softer mining revenue, so investors will parse both the reserve mark and the operating run-rate.

Mining revenue missed estimates as costs rose

Operationally, the quarter was quieter than the headline profit suggests.

• Mining revenue: ~$63.4 million vs ~$67.0 million in Q2
• Analyst revenue average: about $74 million (miss)
• EPS: $1.73 vs a 26-cent consensus estimate (beat)
• BTC mined: ~891 vs ~932 in Q2
• Revenue per BTC: ~$71,100 vs ~$71,900 in Q2
• Cost to mine: ~$42,100 per BTC vs ~$36,500 (higher summer power)
• Gross profit: ~$25.8 million; gross margin ~41% vs ~49% in Q2

Higher seasonal electricity prices lifted unit costs even as the company said it kept mining at a structural discount to spot bitcoin. Gross margin compression tracked that cost move more than a collapse in realized price per coin.

CEO Mike Ho said the firm "continued mining bitcoin at a structural discount to spot, grew our strategic reserve, and increased Satoshis Per Share by approximately 5%" despite the power-cost pressure.

Mine-and-hold: reserves, SPS, and fleet

American Bitcoin ended September with about 8,427 BTC, up from roughly 8,002 at the end of Q2 — a gain of about 425 BTC, or ~5%. The company said it bought no bitcoin during the quarter and issued no shares through its at-the-market program. About 3,090 BTC were pledged against BITMAIN miner purchases.

Satoshis Per Share rose to roughly 11,572 from about 10,989 (~5%). Footnotes note a 1-for-15 reverse split on July 2, 2026, which investors should keep in mind when comparing per-share figures across periods.

At quarter-end the fleet stood near 89,242 miners with about 28.1 EH/s of hash rate. That industrial base underpins the company's pitch: keep mining and accumulate bitcoin while several public peers sell coins or lease power and campuses into AI data-center deals — a pivot highlighted in Nodora's coverage of Riot's $28 billion Texas AI lease.

Eric Trump, co-founder and chief strategy officer, framed the quarter around bitcoin's long-term build and American energy, reinforcing the mine-and-hold story rather than a near-term AI conversion.

ABTC shares and bitcoin market reaction

ABTC shares closed Wednesday down about 5.6% at $6.24. CoinDesk reported Thursday pre-market trading near +1.75% at $6.35, while The Block said the stock climbed about 2.4% in extended trading after the release. The Block also noted the shares are down roughly 76% year to date.

Separately, Trump Media's recent transfer of thousands of bitcoin to Crypto.com — covered in Nodora's Trump Media BTC move — keeps family-linked bitcoin headlines in the same news cycle, though American Bitcoin's results are a separate operating story for the mining subsidiary.

Live market context (OKX, ~23:50 AEDT Nov 5, 2026):

• BTC-USDT ~$79,601 (+~1.6% over 24h), 24h range roughly $78,130–$81,200
• ETH-USDT ~$2,389 (+~3.1% over 24h)

Track bitcoin on Nodora's Charts page.

American Bitcoin's Q3 print shows how large mark-to-market moves on a growing BTC reserve can dominate a miner's GAAP bottom line even when production slips and power costs rise. The next quarters will test whether mine-and-hold keeps Satoshis Per Share climbing without ATM dilution — and whether ABTC's stock can stabilize after a steep year-to-date drawdown. This article is for information only and is not financial advice.

#Bitcoin #American Bitcoin #mining #Hut 8 #earnings

This article is general information, not financial advice.