American Bitcoin reported approximately $126 million in net income for the third quarter of 2026 on Nov. 4, 2026, reversing a $57.2 million second-quarter loss. It also reported about $221 million in adjusted EBITDA, up from a $45 million loss. The stronger earnings came as mining revenue fell from about $67 million to $63.4 million and gross margin narrowed from 49% to 41%.
The company said its cost to produce one bitcoin rose 15.3% from the previous quarter to about $42,100, while production fell from roughly 932 to 891 BTC. It held 8,427 BTC on Sept. 30, with approximately 3,090 BTC pledged for miner purchases. CEO Mike Ho said the company neither issued shares through its at-the-market program nor bought bitcoin during the quarter.
