Eric Trump’s American Bitcoin Banks $126M Profit—But ABTC Shares Dive

American Bitcoin Corp. (Nasdaq: ABTC) reported roughly $126 million in third-quarter web revenue and $221 million in adjusted EBITDA on Wednesday, Nov. 4, 2026, whereas mining prices rose 15.3% and its bitcoin (BTC) treasury reached 8,427 cash.

American Bitcoin Q3 2026 Earnings Reveal $221M in Adjusted EBITDA

The corporate’s third-quarter earnings launch revealed a dramatic monetary reversal, with web revenue reaching roughly $126 million in contrast with a $57.2 million loss within the second quarter. Adjusted earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) reached roughly $221 million, reversing a $45 million adjusted EBITDA loss within the previous quarter.

But the headline figures inform solely a part of the story. Mining income declined from roughly $67 million to $63.4 million, whereas gross revenue slipped from $33 million to $25.8 million. Gross margins contracted from 49% to 41%, reflecting larger seasonal electrical energy bills.

Eric Trump, American Bitcoin’s co-founder and chief technique officer, celebrated the corporate’s monetary efficiency within the Nov. 4 announcement. Trump acknowledged:

“We’re constructing American Bitcoin with the conviction that bitcoin and American vitality will play an more and more vital position in the way forward for our economic system.”

The chief additionally emphasised the corporate’s rising cryptocurrency reserves and bitcoin-per-share efficiency as central components of its accumulation technique.

How A lot Bitcoin Does American Bitcoin Maintain?

American Bitcoin’s treasury expanded from roughly 8,002 BTC on June 30 to eight,427 BTC on Sept. 30, a rise of roughly 425 BTC, or 5.3%. In accordance with BitcoinTreasuries.web, the corporate ranks thirteenth amongst publicly traded company bitcoin holders, forward of GD Tradition Group, a publicly traded firm pursuing a digital asset treasury technique, and Galaxy Digital Holdings, a digital asset monetary providers firm.

Its satoshis per share metric elevated roughly 5%, from 10,989 to 11,572. The measure represents the quantity of bitcoin attributable to every excellent share of the corporate’s frequent inventory. American Bitcoin CEO Mike Ho emphasised that the corporate completed this with out issuing shares via its at-the-market providing program or buying bitcoin through the quarter.

The American Bitcoin govt stated:

“That is a vital distinction in at the moment’s market. Our focus stays on effectively accumulating bitcoin, sustaining flexibility in our operations, and allocating capital in ways in which help long-term bitcoin-per-share progress. We imagine that self-discipline positions American Bitcoin to create lasting worth for shareholders throughout market cycles.”

The earnings launch additionally disclosed that roughly 3,090 BTC have been pledged for miner purchases beneath agreements with mining {hardware} producer Bitmain. The excellence issues for ABTC inventory buyers as a result of increasing bitcoin holdings doesn’t essentially enhance every shareholder’s publicity if further inventory issuance dilutes present possession.

American Bitcoin Mining Prices Rise 15.3% as Electrical energy Costs Climb

The corporate’s price to supply one bitcoin elevated from roughly $36,500 within the second quarter to $42,100 within the third, a 15.3% quarterly enhance. In the meantime, bitcoin manufacturing declined from roughly 932 BTC to 891 BTC, representing a 4.4% discount. The corporate’s reported income per bitcoin mined averaged roughly $71,100 through the third quarter, in contrast with a manufacturing price of $42,100.

That leaves a distinction of roughly $29,000 per bitcoin earlier than contemplating the broader accounting and monetary bills related to the enterprise. The calculation supplies one other perspective on the corporate’s mining economics. Manufacturing remained worthwhile on the reported price foundation, however the cushion narrowed as electrical energy bills climbed.

American Bitcoin’s owned mining fleet consisted of roughly 89,242 machines, representing 28.1 exahash per second (EH/s) of capability at quarter-end. The corporate offered a portion of its mined bitcoin to cowl working bills whereas retaining sufficient manufacturing to increase its cryptocurrency reserves. Regardless of declining manufacturing and better mining prices, the corporate maintained a constructive gross margin of roughly 41%.

Eric Trump’s Bitcoin Mining Enterprise Faces a Altering Political Local weather

American Bitcoin is majority-owned by Hut 8 Corp., a publicly traded vitality infrastructure and bitcoin mining firm. The corporate’s monetary outcomes arrive as Trump household cryptocurrency ventures face heightened political scrutiny following Democrats’ victories within the Nov. 3 midterm elections.

For buyers, the extra speedy concern includes whether or not the corporate’s bitcoin-per-share accumulation technique can face up to rising vitality prices, mining competitors, and the capital commitments required to maintain its operations. The corporate’s monetary efficiency illustrates a distinction between reported earnings and the economics of manufacturing bitcoin. Internet revenue and adjusted EBITDA improved dramatically whilst mining income, output, and gross margins declined.

American Bitcoin delivered a considerable accounting turnaround, however the underlying mining figures reveal a enterprise going through more and more costly manufacturing.

ABTC shares are deep within the pink up to now Thursday, falling almost 17% to a current worth of $5.18 amid a broader tech sell-off that has rocked different publicly traded miners. American Bitcoin shares are actually down greater than 40% during the last month.

Former bitcoin mining firm Keel Infrastructure offered its total BTC treasury through the third quarter, producing $192 million in proceeds…