American Bitcoin (ABTC) Stock Drops 15% After Trump-Linked Miner Misses Revenue Target
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TLDR American Bitcoin (ABTC) stock closed Thursday down about 15% at $5.31. Q3 net income hit $126 million, but $197.3 million was a noncash bitcoin gain. Revenue of $63.4 million missed the roughly $74 million estimate. Mining costs rose to $42,100 per bitcoin, and gross margin fell to 41%. The company held 8,427 BTC while rivals pushed into AI data centers. American Bitcoin (ABTC) stock closed Thursday down about 15% at $5.31. The Trump-linked miner had reported third-quarter results the night before. American Bitcoin Corp, ABTC On paper, the numbers looked strong. Net income hit $126 million, reversing a $57.2 million loss in the second quarter. Most of that came from a $197.3 million noncash gain on its bitcoin holdings.
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