American Bitcoin (ABTC) Posts $126 Million Profit as Holdings Gain $197 Million

Dextape brief

By Dextape Desk · November 5, 2026

American Bitcoin Corp., which trades on Nasdaq under the ticker ABTC, reported roughly $126 million in net income for the third quarter, reversing a $57.2 million loss from the previous quarter. According to the article, most of that swing came from a $197.3 million gain tied to the company's bitcoin holdings, not from mining activity. The Miami-based firm is majority owned by Hut 8 Corp. It produced about 891 bitcoin during the quarter at an approximate cost of $42,100 each, and its holdings reached about 8,427 BTC by the end of September. Mining revenue fell to about $63.4 million, while gross profit dropped to roughly $25.8 million as seasonal power costs climbed. Adjusted EBITDA reached about $221 million, compared with a loss of about $45 million in the second quarter.

Why it matters: It shows how a large part of a crypto miner's reported profit can come from price-driven paper gains on its bitcoin holdings rather than from mining operations.

Mentioned: Bitcoin, Nasdaq

Summary by Dextape, based on reporting by Bitcoin Magazine. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.