American Bitcoin posts $126 million profit on BTC gains
BROBROK News · Based on reporting by Bitcoin Magazine ·
American Bitcoin (ABTC) reported about $126 million in third-quarter net income, reversing a loss from the prior quarter. The result was driven mainly by a $197.3 million gain on its bitcoin holdings, while mining revenue eased slightly.
Key points
- Third-quarter net income came in at about $126 million, versus a $57.2 million loss in Q2.
- A $197.3 million gain on digital assets was the main reason for the profit.
- The company mined about 891 BTC and ended September with roughly 8,427 BTC.
- Mining revenue was about $63.4 million, down from about $67.0 million in the prior quarter.
- Average mining cost rose to about $42,100 per bitcoin amid seasonal power costs.
Why it matters
The report shows how bitcoin price moves can dominate results for miners and treasury companies, even when core mining economics soften. It also separates paper gains on holdings from operating performance, which matters for evaluating the business.
Original headline: “American Bitcoin (ABTC) Posts $126 Million Profit as Holdings Gain $197 Million”
Read the original on Bitcoin Magazine
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.