TLDR
- American Bitcoin recorded $126 million in third-quarter net income, reversing its $57.2 million second-quarter loss.
- The company’s $197.3 million digital asset gain helped offset lower mining revenue and higher operating costs.
- Bitcoin mining revenue declined 5.4% to $63.4 million, while production dropped to approximately 891 BTC.
- The average cost of mining one Bitcoin increased to $42,100 from $36,500 in the previous quarter.
- American Bitcoin increased its Bitcoin reserves by approximately 425 BTC, bringing total holdings to 8,427 BTC.
American Bitcoin returned to profit in the third quarter of 2026 after recording a $197.3 million gain on its digital assets. Its mining business produced fewer coins and earned less revenue than in the previous quarter.
The miner, co-founded by Eric Trump, reported $126 million in net income for the three months ended September 30. That reversed a $57.2 million second-quarter loss. Adjusted EBITDA rose to $220.8 million from a $45 million loss. The asset gain reflected changes in Bitcoin’s reported value rather than cash earned from mining.
American Bitcoin Mining Revenue Falls
American Bitcoin mined about 891 BTC during the quarter, down from 932 BTC in the previous period. Mining revenue fell to $63.4 million from $67 million, while revenue per coin slipped to $71,100. The quarter accounted for about 21% of Bitcoin mined since the company launched operations in March 2025.
Production costs moved in the opposite direction. The average cost to mine one Bitcoin rose from $36,500 to $42,100 as electricity became more expensive. Elsewhere, Strategy reported $19.53 billion in quarterly profit, largely from Bitcoin valuation gains.
Bitcoin Reserve Grows to 8,427 BTC
The company ended September with 8,427 Bitcoin, up 425 from June. It sold some newly mined coins to meet operating expenses but did not purchase Bitcoin during the quarter.
Its reserve included 3,090 Bitcoin pledged under miner purchase agreements with Bitmain. Bitcoin held per share rose about 5%. The company also issued no shares through its stock sale program during the period. Its fleet contained 89,242 mining machines at September’s end.
Rival Mining Companies Report Results
Other miners reported mixed third-quarter figures. Riot Platforms generated $181.4 million in revenue, including $116 million from Bitcoin mining. Riot’s mining revenue declined while the company expanded into data center leasing.
American Bitcoin’s parent company, Hut 8, posted $189.5 million in net income and $413.8 million in digital asset gains. Its overall quarterly revenue fell to $71.1 million from $83.5 million a year earlier.
Shares Move Following Earnings
Meanwhile, MARA moved 1,650 Bitcoin to Galaxy Digital, Copper, and other platforms, according to reported wallet tracking data. The transfers were worth about $132.8 million. The company had not confirmed whether those Bitcoin were sold. American Bitcoin shares fell 5.6% during Wednesday’s regular session before rising 2.4% in after-hours trading after the earnings announcement.
