American Bitcoin swings
American Bitcoin reported its Q3 2026 financial results: net profit of $126 million, turning around from a loss of $57.2 million in Q2; profit mainly came from about $197 million in digital asset gains, revenue was $63.4 million, below Q2's $67 million, and the stock closed down 5.60%.
Event Timeline
- [11-04 22:53] American Bitcoin turns profitable in Q3 with net profit of $126 million (PANews)
- [11-04 22:54] Turns profitable, American Bitcoin's Q3 net profit reaches $126 million (Odaily)
Background and Impact
On November 4-5, the Q3 2026 financial results of Bitcoin miner American Bitcoin (ABTC) were reported in succession by two crypto media outlets: PANews published at 22:53 on November 4, and Odaily at 22:54, with both reports citing the company's official announcement. The company, co-founded by Eric Trump and Donald Trump Jr., posted a Q3 net profit of $126 million, compared with a loss of $57.2 million in Q2, achieving a quarterly turnaround.
The results show that the main source of the turnaround was about $197 million in digital asset gains, not mining revenue. Q3 revenue was $63.4 million, lower than Q2's $67 million. On holdings, as of September 30, the company held about 8,427 BTC, an increase of about 425 from the end of June, of which about 3,090 were pledged to Bitmain. In Q3 the company mined about 891 BTC, with the per-coin mining cost rising to about $42,100.
The two reports are completely consistent on net profit, revenue, holdings and mining cost, with no discrepancy in definitions; the only difference is in the sourcing attribution for the stock price information: PANews states that the stock price data came from a Bloomberg report, namely that ABTC shares closed down 5.60% on Wednesday at $6.24; Odaily gave the same closing performance and price but did not cite the data source.
Structurally, this quarter's profit relied heavily on digital asset gains, while revenue declined quarter-on-quarter and the per-coin mining cost rose to about $42,100, meaning the profit margin of the core mining business has been compressed; with about 3,090 BTC in pledged status, the freely available portion of holdings and related financing arrangements also become points for follow-up observation. After the results were released, the stock closed down 5.60%, indicating that the market did not simply price the stock on the net profit turnaround. Readers following BTC market moves and miner announcements can view related information through channels such as Huobi HTX registration APP download, Gate.io registration APP download, Bitget registration APP download, Binance registration APP download, and OKX registration APP download.
FAQ
### Does this turnaround mean the core mining business has already improved?
It cannot be viewed as equivalent. The company disclosed that profit mainly came from about $197 million in digital asset gains, while revenue of $63.4 million in the same period was lower than Q2's $67 million, and the per-coin mining cost rose to about $42,100.
### How much of the company's 8,427 BTC holdings is pledged?
As of September 30, the company held about 8,427 BTC, an increase of about 425 from the end of June, of which about 3,090 were pledged to Bitmain; neither report disclosed the specific terms of the pledge.
### What points are worth watching going forward?
First, whether next quarter's revenue and per-coin mining cost can improve; second, whether the arrangement for the roughly 3,090 pledged BTC changes; third, the impact of digital asset gains fluctuating with BTC prices on profit, as well as the stock's subsequent reaction to these results.