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American Bitcoin reported $126 million in Q3 net income, reversing a $57.2 million loss in Q2, driven by a $197.3 million digital-asset gain tied to BTCUSD appreciation. Mining revenue fell to $63.4 million and production dropped to 891 BTC, separating weaker operating results from the accounting benefit.
American Bitcoin reported $126 million in net income for the third quarter, reversing a $57.2 million loss in the second quarter, according to the company’s results.
Digital-asset gain drives results
A $197.3 million digital-asset gain, tied to appreciation in Bitcoin (BTCUSD), lifted the quarterly results. That accounting benefit separated the profit from the company’s operating performance.
Mining revenue and production decline
- Mining revenue fell to $63.4 million.
- Production declined to 891 BTC.
The weaker mining figures indicate softer operating results even as the digital-asset gain pushed net income positive.
Quarter-over-quarter swing
The Q3 profit marks a swing from the prior quarter, when American Bitcoin posted a $57.2 million loss. The reversal was driven by the digital-asset gain rather than by mining revenue or production, both of which declined.