By Isaac • November 6, 2026 12:01 am •
American Bitcoin just reported a headline number that will get plenty of attention: approximately $126 million in quarterly net income.
Underneath that profit, however, the operating picture is more complicated. The company mined fewer Bitcoin, paid more to produce each coin, and saw its gross mining margin shrink.
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Much of the reported profit came from the rising accounting value of Bitcoin already on its balance sheet.
American Bitcoin said it held 8,427 Bitcoin as of September 30, up roughly 5% from the end of June. Satoshis per share also increased about 5%, showing that each share represented a larger claim on the reserve.
The company mined approximately 891 Bitcoin during the quarter and reported about $63.4
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