WiremarketsBrief
American Bitcoin Says Q3 Net Income Reached $126M as BTC Reserve Grew
American Bitcoin reported approximately $126 million in third-quarter net income and said its Bitcoin reserve increased through mining rather than new spot purchases during the period.
Brief
American Bitcoin reported roughly $126 million in net income for the third quarter, according to a release dated November 4. The company said its Bitcoin holdings grew through mining during the period, not through fresh spot market buys. It also stated it neither issued shares under its at-the-market program nor purchased Bitcoin in that quarter. Adjusted EBITDA came in at about $221 million, and the firm pointed to an approximately 5% rise in satoshis held per share. Management credited its mining operations for the reserve increase even though seasonal electricity costs added pressure. The piece cautions that adjusted EBITDA depends on exclusions and accounting policies. It also describes sats per share as a metric that is not an accounting profit measure.
Why it matters: It shows how a miner-run treasury can grow its Bitcoin balance through production rather than purchases, a distinction that matters when comparing public Bitcoin businesses.
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