TL;DR
American Bitcoin reported $126 million in Q3 net income, reversing its $57.2 million Q2 loss as a $197.3 million digital-asset gain lifted results.
Mining revenue fell to $63.4 million while production declined to 891 BTC, separating weaker operating performance from the accounting benefit of Bitcoin appreciation.
The company ended September with 8,427 BTC worth about $702.9 million, including 3,090 BTC pledged under Bitmain miner purchase agreements during the reporting period.
American Bitcoin Corp. reported net income of $126 million for the third quarter of 2026, reversing the $57.2 million loss recorded in the previous quarter. In its SEC filing , the company disclosed a $197.3 million gain on digital assets as Bitcoin appreciated during the period. The quarterly profit was driven largely by the rising value of American Bitcoin’s Bitcoin reserve rather than stronger mining revenue , highlighting how treasury exposure can reshape reported earnings.
Bitcoin Gains Drive American Bitcoin’s Q3 Profit
The filing shows Bitcoin rising from approximately $59,847 to $83,415 during the quarter, generating the $197.3 million digital-asset gain on a reserve that reached 8,427 BTC by September 30. That compared with a $71.2 million digital-asset loss in the second quarter. Mark-to-market gains provided the main boost to quarterly earnings , extending the financial impact of American Bitcoin’s corporate BTC reserve strategy as its holdings continued expanding.
Mining revenue totaled $63.4 million, down from $67 million in the second quarter and $64.2 million a year earlier. American Bitcoin mined approximately 891 BTC during Q3, compared with 932 BTC in Q2, while cost of revenue reached $37.5 million. The mining business generated less revenue even as the company reported a large consolidated profit , separating operating performance from the accounting effect of Bitcoin appreciation and providing context to its previous quarterly results .
The company’s Bitcoin reserve increased from 8,002 BTC at the end of June to 8,427 BTC at the end of September. Of that total, 3,090 BTC were pledged under miner purchase agreements with Bitmain, while the reserve’s fair value stood at approximately $702.9 million. American Bitcoin expanded its holdings without reporting Bitcoin purchases during the quarter , building on its earlier 8,000 BTC treasury milestone through mining and reserve management.
A $64.3 million derivatives loss partly offset the digital-asset gain, leaving income before taxes at $127.6 million and net income at $126 million. Adjusted EBITDA reached $220.8 million, while the filing warned that Bitcoin price movements can materially affect the value of the company’s reserve and financial results. The quarter demonstrates how American Bitcoin’s earnings remain closely tied to Bitcoin valuation changes , even as its mining operations continue producing coins and supporting the company’s broader Bitcoin accumulation model . This exposure remains central to results.
