American Bitcoin generated approximately $63.4 million in mining revenue in the third quarter of 2026, down from $67 million in the preceding quarter. Net income swung from a $57.2 million loss to a $126 million profit, primarily due to a roughly $197.3 million non-cash gain linked to a 39% rise in the price of Bitcoin. Production nevertheless declined from 932 to 891 Bitcoin, while the cost to mine each Bitcoin increased from $36,500 to $42,100 because of seasonal power costs. Gross profit consequently fell to $25.8 million and the gross margin narrowed from 49% to 41%. American Bitcoin sold around 465 Bitcoin to cover operating expenses and added 425 to its strategic reserve, bringing total holdings to 8,427 Bitcoin, including 3,090 pledged under agreements with Bitmain.
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