TREE NEWS reports: American Bitcoin (ABTC), the bitcoin miner co-founded by Eric Trump and Donald Trump Jr., reported a net profit of $126 million for the third quarter, reversing a $57.2 million loss in the prior quarter, with earnings driven mainly by about $197 million in digital asset gains. Revenue fell to $63.4 million from $67 million. As of Sept. 30 the company held about 8,427 BTC, including roughly 3,090 pledged to Bitmain, and mined about 891 BTC in the quarter at a cost of about $42,100 per coin. ABTC shares closed down 5.60% at $6.24 on Wednesday.
Trump-linked American Bitcoin swings to $126M Q3 profit on digital asset gains
Related Coin Charts
AI take
The profit is a mark-to-market artifact rather than an operating win: digital asset gains dwarfed a revenue decline, so the result tracks bitcoin's quarter, not the mining business. The disclosed Bitmain pledge and the roughly $42,100 per-coin cost are the details worth weighing against that headline. The share price falling on the print suggests the market already discounts one-off gains. Whether ABTC's earnings decouple from bitcoin's price swings is the open question.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
5m ago
Samsung to make SpaceX Starlink satellite chips at Texas plant
14m ago
Goldman Sachs upgrades H-shares to overweight, sees MSCI China up 23% in 2026
49m ago
Luxor CEO says attack used sophisticated AI-assisted vectors, pledges review and client apology
1h ago
Strategy Dropped from MSCI Index, Triggering Potential $2-3B Passive Selloff
1h ago
@3i team says it front-ran Cash Cat, PONS buys and made over $6M
1h ago
Solflare Launches Helius-Powered Private Mode