American Bitcoin’s $126 Million Profit Rode Bitcoin’s Rally. Q4 Is Testing It

American Bitcoin (ABTC) earned $126 million in the third quarter (Q3), powered by a $197.3 million Bitcoin (BTC) gain. Without it, the miner’s operations posted a small loss. The company, co-founded by Eric Trump, released its earnings after the US market closed on November 4. Its stock had already fallen 5.6% from the prior close that day. How a Bitcoin Rally Rescued a Thin Mining Quarter CEO Mike Ho said on the earnings call that the gain was non-cash, reflecting BTC’s roughly 39% rise in Q3. The filing shows operating income of $191.8 million, which includes the $197.3 million digital asset gain. Stripped of that gain, operations lost about $5.5 million. Meanwhile, the mining business weakened. Revenue slipped to $63.4 million from $67 million in Q2.

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