MIAMI – – November 04, 2026 -- American Bitcoin Corp. (Nasdaq: ABTC) swung to a third-quarter 2026 net income of about $126 million from a net loss of about $57.2 million in Q2, and reported Adjusted EBITDA of about $221 million versus an Adjusted EBITDA loss of about $45.0 million in the prior quarter.
The company raised its Bitcoin holdings by about 425 BTC, or roughly 5%, to about 8,427 BTC as of September 30, 2026, from about 8,002 BTC on June 30. Satoshis Per Share rose about 5%, from about 10,989 to about 11,572. Management said the gains came without issuing shares through its ATM program and without buying Bitcoin during the quarter.
Mining margin falls to 41% as seasonal power costs rise
Gross profit was about $25.8 million, a gross margin of about 41%, compared with about $33.0 million and about 49% in Q2. Cost to mine rose to about $42,100 per Bitcoin from about $36,500 in the prior quarter. The company attributed the increase primarily to higher seasonal power costs across its sites.
Mining revenue was about $63.4 million, down from about $67.0 million in Q2. Revenue per Bitcoin mined was about $71,100, compared with about $71,900 a quarter earlier.
Output slips to 891 Bitcoin mined in the quarter
The company mined about 891 Bitcoin in Q3, compared with about 932 in Q2. Q3 production accounted for about 21% of all Bitcoin mined since its March 31, 2025 launch. It sold a portion of production to cover operating costs while continuing to build its reserve.
The owned fleet totaled about 89,242 miners with about 28.1 EH/s of capacity at quarter-end.
Management stresses discipline and Bitcoin-per-share growth
CEO Mike Ho said the company mined Bitcoin at a structural discount to spot and is allocating capital to support long-term Bitcoin-per-share growth. Co-Founder and Chief Strategy Officer Eric Trump described the results as significant in a challenging digital asset market.
American Bitcoin is a majority-owned subsidiary of Hut 8 Corp. The company held its Q3 earnings call on November 4 at 4:30 p.m. ET.