American Bitcoin Q3 net income $126 million; mining revenue fell to $63.4 million
American Bitcoin reported third-quarter 2026 results, showing net income of $126 million compared with a net loss of $57.2 million in the second quarter. Mining revenue fell to $63.4 million from $67.0 million, and gross margin narrowed to about 41% from about 49%, which the company attributed to higher seasonal power costs. The profit swing reflects a $197.3 million gain on digital assets, partly offset by a $64.3 million loss on derivatives, so shareholders should weigh the improved net income against weaker operating measures.
Key points
- Net income was $126 million in Q3 2026, compared with a net loss of $57.2 million in Q2 2026; Adjusted EBITDA was $221 million versus a loss of $45.0 million.
- Mining revenue was $63.4 million, down from $67.0 million; gross profit was $25.8 million, down from $33.0 million.
- Cost to mine rose to about $42,100 per Bitcoin from about $36,500, primarily reflecting higher seasonal power costs.
- Bitcoin holdings rose to about 8,427 as of September 30, 2026, from about 8,002 on June 30, 2026, and Satoshis Per Share increased about 5%.
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.