Original report published by The Block on November 5, 2026, at 16:51:30 UTC+8.
American Bitcoin reported $126 million in net income for the third quarter of 2026, reversing a $57.2 million loss in the previous quarter. A $197.3 million gain on digital assets offset lower mining revenue and higher production costs, according to the company’s statement cited by The Block.
The bitcoin miner, co-founded by Eric Trump, had recorded a $71.2 million loss on digital assets in the second quarter. Adjusted EBITDA also turned positive, reaching $220.8 million for the three months ended September 30, compared with a $45 million loss in Q2.
Mining revenue and margins decline
The improvement in reported earnings contrasted with weaker mining results:
- Mining revenue: $63.4 million, down 5.4% quarter over quarter from $67 million.
- Bitcoin production: approximately 891 BTC, down 4.4% from 932 BTC.
- Production costs: approximately $42,100, up 15.3% from $36,500.
- Gross margin: 41%, down from 49%.
- Gross profit: $25.8 million, down from $33 million.
“These are significant results, particularly in a challenging digital asset market, and they reflect the discipline and long-term conviction behind this business,” Eric Trump said in the statement. “But our opportunity extends beyond any single quarter.”
Bitcoin reserves reach 8,427 BTC
American Bitcoin said it sold some of its quarterly bitcoin production to cover operating costs while adding about 425 BTC to its reserves. It made no bitcoin purchases during the quarter, ending September with 8,427 BTC in total holdings.
ABTC shares closed down 5.6% on the Wednesday preceding publication, then rose 2.4% in extended trading following the earnings release. The stock was down 76% year to date at the time of the report.
The Block also reported results from other miners. Hut 8 posted $189.5 million in Q3 net income, including $413.8 million in primarily unrealized digital asset gains. Riot Platforms reported $181.4 million in quarterly revenue, including $116 million from bitcoin mining.