The Bitcoin miner co-founded by Eric Trump, American Bitcoin (NASDAQ: ABTC), reported $126 million in net income during Q3 2026, a reversal in fortunes for a firm that lost $52 million in the previous quarter.
Most of the dollar gains American Bitcoin reported for the third quarter came from a Bitcoin rally that added $197.3 million to the firm’s bottom line, rather than from its mining business. The firm holds 8,427 BTC in its corporate stockpile.
American Bitcoin’s token reserve grew during Q3 2026. Source: American Bitcoin
American Bitcoin profits swing with BTC price
American Bitcoin has jumped from the loss to profit column from the second and third quarters of the year, going from a $57.2 million net loss in Q2 to $126 million in Q3 2026. The company’s profits were primarily driven by a 40% BTC price surge during the three-month period that ended September 30, its best quarter since late 2024.
American Bitcoin reported a $71.2 million loss on digital assets during the second quarter.
BTC was priced near $83,600 to end September, and is currently trading close to $80,300 as of this report.
The outlook does not look as positive when the paper gains on the Bitcoin in American Bitcoin’s reserve do not feature in the picture. Mining revenue slowed down quarter-over-quarter to $63.4 million, a 5.4% slowdown that saw the company go from producing 932 BTC to 891.
American Bitcoin’s operating costs also inched in the wrong direction during the quarter. It now takes roughly $42,100 to mine one Bitcoin. The firm blames the 15.3% climb on seasonal power prices across its sites. Gross profit fell from $33 million to $25.8 million, while gross margin dropped from 49% to 41%.
Miners are also competing for smaller rewards, as network difficulty hit a record 148.4 trillion on October 29. Hashprice, a measure of daily revenue per unit of computing power, also fell to its lowest since August.
American Bitcoin did not buy any BTC during the quarter. However, it sold some of the roughly 425 BTC it produced to fund operations. The unsold tokens went straight into its reserve, which is currently at 8,427 BTC.
Co-founder and chief strategy officer, Eric Trump, described the results as “significant” during “a challenging digital asset market” and said the opportunity “extends beyond any single quarter.”
ABTC resists Bitcoin-to-AI pivot
While other Bitcoin miners have changed lanes into the AI compute market for profitability, American Bitcoin remains a pure-play Bitcoin miner.
Listed miners have signed more than $70 billion in AI and high-performance computing (HPC) deals, according to CoinShares, which also estimates that AI could supply as much as 70% of revenue by late 2026.
Even the majority owner of American Bitcoin , Hut 8, reported $189.5 million in Q3 net income and said it had fully commercialized its Beacon Point AI data center campus.
Investors are not treating the quarter as a turnaround. ABTC closed down 5.6% on Wednesday, then rose 2.4% in after-hours trading once the earnings landed. The stock is down 76% so far in 2026. Cryptopolitan reported that the company ran a 1-for-15 reverse stock split in July to stay above Nasdaq’s minimum bid rule.
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