American Bitcoin Corp. Reports $126 Million Q3 Profit as Bitcoin Value Surges
Key Takeaways
- •American Bitcoin Corp. reported third-quarter 2026 net income of $126 million, reversing a second-quarter net loss of $57.2 million.
- •The profit was driven primarily by an approximately 39% increase in Bitcoin's price over the quarter rather than by mining operations.
- •The company's mining revenue and gross margins declined during the quarter, but gains on its Bitcoin holdings more than compensated.
- •Eric Trump co-founded the company and serves as chief strategy officer, while Hut 8 remains the majority owner after contributing its mining operations in 2025.
- •Bitcoin traded above $68,000 as of November 6, according to the report, which was published by Crypto Briefing on November 5.
American Bitcoin Corp., the Bitcoin mining company co-founded by Eric Trump, reported net income of $126 million for the third quarter of 2026, a sharp turnaround driven primarily by gains in Bitcoin's market value.
The result reverses course from the second quarter, when the company recorded a net loss of $57.2 million. Bitcoin's price climbed roughly 39% over the quarter, and that appreciation played a central role in the improved financials, even as American Bitcoin's mining revenue and gross margins declined.
The quarterly figures underscore how closely the company's bottom line is tied to Bitcoin's market price: gains on its Bitcoin holdings more than offset weaker operating results during the period. The report also highlights the sensitivity of publicly listed Bitcoin miners to fluctuations in the cryptocurrency's price, which can dominate quarterly earnings even when mining revenue slows.
American Bitcoin was established in 2025, when majority owner Hut 8 contributed its Bitcoin mining operations to the newly formed company. Eric Trump, who co-founded the venture, serves as chief strategy officer. Its shares trade on the Nasdaq under the ticker ABTC following a merger with Gryphon Digital Mining completed in September 2025.
Bitcoin was changing hands above $68,000 as of November 6, according to the report.
The financial results were reported by Crypto Briefing on November 5.
