American Bitcoin's $126M Q3 profit hinges on Bitcoin gain, not mining

American Bitcoin (NASDAQ: ABTC), the Bitcoin miner co-founded by Eric Trump, reported $126 million in net income for Q3 2026, reversing a $57.2 million net loss in Q2. Most of the gain came from a Bitcoin rally that added $197.3 million, not from mining. Mining revenue fell 5.4% to $63.4 million as output dropped to 891 BTC from 932, and mining one Bitcoin cost about $42,100, up 15.3%. American Bitcoin held 8,427 BTC, bought none during the quarter, and sold some mined tokens to fund operations.