American Bitcoin Corp reported third quarter 2026 revenue of $63.4 million, missing the $74.1 million consensus as mining production declined slightly. Despite the revenue miss, the company reported a substantial GAAP net income of $125.9 million, primarily driven by a $197.3 million gain from the revaluation of digital assets following Bitcoin's price appreciation.
Key Highlights
- Strategic Bitcoin reserves expanded to 8,427 BTC, exceeding analyst projections of 8,300 BTC and representing a 5% quarterly increase.
- Operational efficiency was impacted by seasonal power costs, with the direct cost to mine rising to $42,100 per Bitcoin from $36,500 in the prior quarter.
- Satoshis Per Share (SPS) grew by approximately 5% to 11,572, achieving organic growth without the use of ATM share issuance or external Bitcoin purchases during the period.