American Bitcoin Swings to $126 Million Q3 Profit on Treasury Gains

American Bitcoin Corp. reported a third-quarter net profit of approximately $126 million, rebounding from a $57.2 million loss in Q2. Profitability was driven primarily by a $197.3 million mark-to-market gain on bitcoin holdings following a 39% price rally, lifting adjusted EBITDA to $221 million from negative $45 million. However, core operational metrics weakened as mining revenue dipped to $63.4 million from $67.0 million, and quarterly output fell to 891 BTC from 932 BTC. Seasonal power costs drove production expenses up to $42,100 per bitcoin from $36,500, sending ABTC shares down over 5.5% intraday.