American Bitcoin Posts $126 Million Quarterly Profit, but Mining Itself Got Weaker

A bitcoin miner co-founded by Eric Trump has turned a loss into a large profit, yet the gain came from the rising value of its coins rather than from digging them. American Bitcoin earned $126 million for the three months ended Sept. 30, after losing $57.2 million the quarter before.

Digital Asset Gains Drive the Turnaround

A $197.3 million gain on digital assets did the heavy lifting, replacing a $71.2 million loss booked in Q2. Adjusted EBITDA reached $220.8 million, compared with a $45 million loss earlier. Eric Trump said the results were notable in a tough market and that the company’s opportunity goes beyond one quarter.

Mining Revenue and Costs Moved the Wrong Way

Mining revenue slipped 5.4% to $63.4 million, and output fell 4.4% to about 891 BTC. Production cost climbed 15.3% to roughly $42,100 per coin, which pushed gross margin down to 41% from 49% and gross profit to $25.8 million.

Bitcoin Reserve and Share Price

The firm sold part of its production to cover expenses, added around 425 BTC to its reserve and made no purchases, ending September with 8,427 BTC. Shares fell 5.6% on Wednesday, rose 2.4% after hours, and remain down 76% for the year.