DECRYPT · 2026-11-05 18:25 UTC

Trump-Backed American Bitcoin Turns a Profit as Bitcoin Rise Lifts Books

American Bitcoin (ABTC) reported a $126 million profit in Q3 2024, swinging from a $57.2 million loss in Q2, driven largely by a $197 million gain on digital assets as Bitcoin's value rose. The company grew its Bitcoin reserve to 8,427 BTC (up 5%) through mining output alone without purchasing Bitcoin or issuing new shares, increasing satoshis per share by 5%. Mining operations faced headwinds with output declining to 891 BTC from 932 BTC and mining costs rising to $42,100 per Bitcoin from $36,500 due to higher seasonal power costs, compressing gross margin to 41% from 49%.

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