American Bitcoin (ABTC) Posts $126 Million Profit as Holdings Gain $197 Million
By Micah Zimmerman
AI summary of the source article
American Bitcoin reported approximately $126 million in third-quarter net income, swinging from a prior-quarter loss. The profit was driven by a $197.3 million gain on its bitcoin holdings rather than mining revenue, which dropped to $63.4 million.
Key facts
- American Bitcoin reported about $126 million in Q3 net income, lifted by a $197.3 million gain on digital assets.
- The company mined around 891 bitcoin at a cost of roughly $42,100 each, ending September with about 8,427 BTC.
- Mining revenue fell to approximately $63.4 million from $67.0 million in Q2 as seasonal power costs increased.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine American Bitcoin (ABTC) Posts $126 Million Profit as Holdings Gain $197 Million American Bitcoin swung to about $126 million in third-quarter net income after a $197.3 million gain on its bitcoin holdings, reversing a $57.2 million loss in the prior quarter. This post American Bitcoin (ABTC) Posts $126 Million Profit as Holdings Gain $197 Million first appeared on Bitcoin Magazine…