American Bitcoin reports Q3 mining revenue of $63.4M, swings to $126M profit

A roughly 39% Bitcoin price rally turned a second-quarter loss into a nine-figure profit, even as production and margins slipped American Bitcoin Corp. reported third-quarter mining revenue of approximately $63.4 million and net income of about $126 million. Last quarter, the same company posted a loss. The turnaround is real on paper. The engine behind it, though, was mostly Bitcoin’s price, not the mining operation itself. The numbers behind the swing The Nasdaq-listed miner (ABTC) released its third quarter 2026 results on November 4. Mining revenue came in at approximately $63.4 million, down from approximately $67 million in the second quarter. Net income was the headline act. The company moved from a loss of approximately $57.2 million in Q2 to a profit of about $126 million in Q3. Most of that came from a non-cash gain of around $197.3 million. That gain reflects the rising value of the company’s Bitcoin holdings, as the asset’s price climbed roughly 39% during the quarter. Adjusted EBITDA told a similar story. It reached about $221 million, compared with a loss of $45 million in the prior quarter. Under the hood, mining got harder Strip away the price rally and the operatio...