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813 Bitcoin Worth About $65.4 Million Moves to Coinbase Institutional

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Eric Trump's American Bitcoin posts $126M Q3 profit, adds 425 BTC
Nov 5, 10:34 AM·
Medium Pessimistic

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Summary

American Bitcoin (NASDAQ: ABTC), co-founded by Eric Trump, reported $126 million in net income for Q3 2026, reversing a $52 million loss in the prior quarter, with most gains coming from a $197.3 million accounting gain on its Bitcoin holdings. Without that gain, the company would have lost about $70 million before taxes, as output, revenue and margins slipped from the second quarter. The company added 425 BTC to its holdings during the quarter even as mining revenue and margins declined. The results underscore the volatility of relying on Bitcoin’s price rather than mining operations, with operational challenges impacting long-term…

American Bitcoin (NASDAQ: ABTC), the miner co-founded by Eric Trump, reported $126 million in net income for the third quarter, reversing a $52 million loss in the prior quarter, according to the company’s results.

Profit Driven by Bitcoin Holdings

Most of the gain came from a $197.3 million accounting gain on the bitcoin the company holds.

Without that gain, the company would have lost about $70 million before taxes, according to the report.

Operations Slip From Second Quarter

The results also showed deterioration in the underlying mining business:

  • Output slipped from the second quarter.
  • Revenue declined from the second quarter.
  • Margins narrowed from the second quarter.

Holdings Grew Despite Weaker Mining Results

The company added 425 BTC to its holdings during the quarter, even as mining revenue and margins declined.

Takeaway

The quarter illustrates the volatility of relying on bitcoin’s price rather than mining operations, with operational challenges affecting the business even as treasury gains lifted reported net income.