American Bitcoin reported approximately $126 million in third-quarter net income and about $221 million in adjusted EBITDA. The company said it neither issued shares through its at-the-market program nor purchased Bitcoin on the spot market during the period. Its reserves therefore grew through mining, while satoshis per share increased by approximately 5%. That increase must be assessed alongside share count, debt, operating expenses, assets and liabilities, and the stock price. Mining costs and network difficulty remain exposed to changes in Bitcoin prices and electricity costs, so a strong quarter does not guarantee future profitability.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
