American Bitcoin posts $126 million profit in Q3, driven entirely by Bitcoin accounting gains
American Bitcoin, the mining company backed by Eric Trump, reported net income of $126 million for the third quarter, reversing a $57.2 million loss from the previous quarter. The turnaround was entirely due to a $197.3 million accounting gain on its Bitcoin treasury holdings.
Without that unrealized gain, the company would have recorded approximately $70 million in pretax losses. Mining production, revenue, and margins all declined quarter over quarter. The company added 425 BTC during the period, bringing its treasury strategy into sharper focus as its core mining operations weakened.
The results highlight a growing pattern among Bitcoin treasury companies: headline profits that depend heavily on BTC price movements rather than underlying business performance.
BREAKING:
Donald Trump’s company sells $343 MILLION worth of Bitcoin.
The crypto president...
#TRUMP #TrumpMedia #BTC #AmericaBitcoin #Trumpestafa $BTC $WBTC $DJT
American Bitcoin, the mining company backed by Eric Trump, reported net income of $126 million for the third quarter, reversing a $57.2 million loss from the previous quarter. The turnaround was entirely due to a $197.3 million accounting gain on its Bitcoin treasury holdings.
Without that unrealized gain, the company would have recorded approximately $70 million in pretax losses. Mining production, revenue, and margins all declined quarter over quarter. The company added 425 BTC during the period, bringing its treasury strategy into sharper focus as its core mining operations weakened.
The results highlight a growing pattern among Bitcoin treasury companies: headline profits that depend heavily on BTC price movements rather than underlying business performance.
BREAKING:
Donald Trump’s company sells $343 MILLION worth of Bitcoin.
The crypto president...
#TRUMP #TrumpMedia #BTC #AmericaBitcoin #Trumpestafa $BTC $WBTC $DJT
