Shares in American Bitcoin Corp., a Nasdaq-listed bitcoin mining and accumulation firm co-founded by Eric and Donald Trump Jr., reported strong third-quarter revenue and expanding BTC reserves on Friday, with its stock rebounding after a sharp initial fall in pre-market trading.
ABTC dropped 15.6% at one point pre-market from its Thursday closing price of $4.74, with the company’s shares down 18% over the past month but 138% up year-to-date, according to The Block’s ABTC price page.
ABTC/USD price chart. Image: TradingView.
The decline tracked a broad risk-off move across crypto and equities, with bitcoin itself sliding around 5% to the $95,000 level. The drop also pushed the mining hashprice below $40 PH/s per day, adding pressure across the mining sector.
However, ABTC subsequently rebounded to $5.09 and is currently trading up slightly at $4.80 in early Friday trading post-open, with bitcoin also recovering back over $96,000.
In a 10-Q filing with the U.S. Securities and Exchange Commission on Friday, the company said third-quarter revenue rose to $64.2 million from $11.6 million year-over-year, with net income reaching $3.5 million compared to a $0.6 million net loss a year earlier. This included a $5.5 million loss on digital assets, compared with a $1.6 million loss in the same quarter in 2024. Adjusted EBITDA came in at $27.7 million, a reversal from negative $4.3 million in the prior-year’s third quarter.
“We more than doubled our mining capacity, more than doubled revenue, and grew gross margin by seven percentage points quarter-over-quarter,” American Bitcoin CEO Michael Ho said in a release.
Expanding bitcoin reserves
American Bitcoin added more than 3,000 BTC to its strategic reserve during the quarter through both its mining operations and at-market purchases, ending September with 3,418 BTC, equivalent to 371 satoshis per share.
As of Nov. 13, the company said it has roughly 4,090 BTC ($391 million) in its reserve — including coins held in custody or pledged for miner purchases — up 86 BTC from its last disclosure. The firm’s holdings rank it 24th among the top public treasury companies, according to Bitcoin Treasuries data.
Operational capacity also continued to scale following the company’s spin-out from Hut 8 earlier this year and its September stock-for-stock merger with Gryphon Digital Mining. As of Sept. 30, American Bitcoin said it operated 77,944 miners with a total fleet capacity of about 25 EH/s, including 21.9 EH/s energized, at a weighted average fleet efficiency of 16.3 J/TH.
The firm mined 563 BTC in Q3, according to the filing, more than half of its total 1,006 BTC mining haul for the first three quarters of 2025 — boosted by exercising an option to purchase 17,280 Bitmain Antiminer U3S21EXPH miners in August, which raised its realized hashrate by nearly 15 EH/s.
“The third quarter validated the thesis behind American Bitcoin,” co-founder and Chief Strategy Officer Eric Trump said in the release. “While others paid spot, we generated bitcoin below market through scalable, asset-light mining operations. This dual strategy is how we intend to compound value for our shareholders and solidify our position as a capital-efficient platform for long-term bitcoin accumulation.”
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
