COINTELEGRAPH · 2026-11-05 22:44 UTC

American Bitcoin's $126M profit masks mining pressure as rivals turn to AI

American Bitcoin reported quarterly net income of $126 million, driven by a $197.3 million noncash gain on its Bitcoin holdings. Mining revenue fell 5.5% to $63.4 million from the prior quarter, the cost to mine one BTC rose about 15% to $42,100, and excluding the holdings gain the company would have posted an operating loss of roughly $5.5 million. Rivals Riot Platforms, MARA Holdings and Core Scientific are shifting toward AI data centers, while American Bitcoin continues mining and building BTC reserves, now 8,427 BTC.

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