American Bitcoin Reports Third Quarter 2026 Results
Grows Bitcoin Reserve Through Mining Operations, Increases Satoshis Per Share by Approximately 5% MIAMI, FL, November 4, 2026 –American Bitcoin Corp.(Nasdaq: ABTC) (“American Bitcoin” or the “Company”), a Bitcoin accumulation platform focused on building America’s Bitcoin infrastructure backbone, today reported its financial results for the third quarter of 2026.
Increased Satoshis Per Share (SPS) by ~5%, from ~10,989¹ as of June 30, 2026 to ~11,572¹ as of September 30, 2026.
Grew Bitcoin holdings from ~8,002 2 as of June 30, 2026 to ~8,427 2 as of September 30, 2026, an increase of ~425 Bitcoin, or ~5%, in a single quarter.
Mining revenue for Q3 2026 was ~$63.4 million , compared with approximately $67.0 million in Q2 2026. Revenue per Bitcoin mined was ~$71,100 in Q3 2026 compared with approximately $71,900 in Q2 2026.
Mined ~891 Bitcoin in Q3 2026 , compared with ~932 Bitcoin mined in Q2 2026. Q3 2026 production represented ~21% of the Company’s total Bitcoin mined since its March 31, 2025 launch.
Gross profit was ~$25.8 million, representing a gross margin of ~41%, compared with ~$33.0 million and ~49% in Q2 2026. Higher seasonal power costs at our sites contributed to quarter-over-quarter margin pressure.
Sold a portion of Bitcoin production to cover operating costs while continuing to build the Company’s strategic Bitcoin reserve.
Cost to mine was ~$42,100 per Bitcoin in Q3 2026, compared with ~$36,500 per Bitcoin in Q2 2026, primarily reflecting higher seasonal power costs across our sites.
Net income of ~$126 million in Q3 2026, compared with a net loss of ~$57.2 million in Q2 2026, and Adjusted EBITDA of ~$221 million in Q3 2026, compared with an Adjusted EBITDA loss of ~$45.0 million in Q2 2026.
Total owned fleet consisted of ~89,242 Bitcoin miners with ~28.1 EH/s of capacity as of quarter-end.
1. Represents the amount of Bitcoin attributable to each outstanding share of the Company’s common stock. SPS is calculated by multiplying the Company’s total Bitcoin holdings by the Satoshi conversion ratio (1 Bitcoin equals 100,000,000 Satoshis), then dividing that total by the number of shares of the Company’s common stock outstanding as of the measurement date. Number of common shares issued and outstanding reflect a 1-for-15 reverse stock split effected on July 2, 2026.
2. Includes ~3,090 Bitcoin pledged for miner purchases under agreements with BITMAIN.
The Company’s Third Quarter 2026 Earnings Conference Call will be held today, Wednesday, November 4, 2026, at 4:30 p.m. ET. Investors can join the live webcast athttps://app.webinar.net/pymQJ5mJ37e. To join by telephone, dial 1 (888) 880-3330 ten minutes prior to the start time to allow time for registration. International callers may dial 1 (646) 357-8766.
The Company expects to make available on its website and/or official social media channels certain materials and updates designed to accompany the discussion of its results, along with certain supplemental financial information and other data, including regarding its Bitcoin holdings and related performance metrics. For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company’s website, abtc.com/investors, and its social media accounts, including onX,Instagram, andLinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.
American Bitcoin Corp., a majority-owned subsidiary of Hut 8 Corp., is a Bitcoin accumulation platform focused on building America’s Bitcoin infrastructure. The Company delivers institutional-grade exposure to Bitcoin through an industry- first business model that integrates scaled self-mining operations with disciplined accumulation strategies. For more information, visitabtc.comand follow the Company onX at @ABTC.
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements relating to the Company’s ability to efficiently accumulate Bitcoin and continue to grow its strategic Bitcoin reserve; the Company’s ability to mine Bitcoin at a discount to the prevailing Bitcoin price; the Company’s ability to grow its Bitcoin holdings and Satoshis Per Share over time; the Company’s ability to maintain flexibility in its operations; the Company’s ability to allocate capital in a manner that supports long-term Bitcoin-per-share growth; the Company’s ability to create lasting value for shareholders across market cycles; the effect of seasonal power costs on the Company’s margins and cost to mine; the expected role of Bitcoin and energy infrastructure in the future of the economy and the Company’s positioning in its industry; and the Company’s future business strategy, competitive strengths, expansion, and growth of the business and operations more generally.
Forward-looking statements are not statements of historical fact, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by the Company as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking
statements, including, but not limited to: the price of Bitcoin and concentration of Bitcoin holdings; failure to grow hashrate; the purchase of miners; competition from other methods of investing in Bitcoin; uncertainty in the development and acceptance of the Bitcoin network; reliance on third-party mining pool service providers; hedging transactions; Bitcoin halving events; failure to realize the anticipated benefits of the merger transactions; dependence on Hut 8; liquidity constraints and failure to raise additional capital; failure of critical systems; competition from current and future competitors; changes in leasing arrangements; hazards and operational risks; electrical power requirements; geopolitical, social, economic, and other events and circumstances; cybersecurity threats and breaches; Internet-related disruptions; dependence on key personnel; having a limited operating history; rapidly changing technology; predicting facility requirements; acquisitions, strategic alliances or joint ventures; operating and expanding internationally; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; stock price volatility; the Company’s multi-class capital structure and status as a controlled company; and other factors that may affect the future business, results, financial position and prospects of the Company. Additional factors that could cause results to differ materially from those described above can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in other documents filed by the Company from time to time with the SEC.
In addition to our results determined in accordance with GAAP, we rely on Adjusted EBITDA to evaluate our business, measure our performance, and make strategic decisions. Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net income (loss), adjusted for impacts of income tax provision, depreciation and amortization, loss (gain) on derivatives, gain on warrant liability, the removal of non-recurring transactions, and stock-based compensation expense in the period presented. You are encouraged to evaluate each of these adjustments and the reasons that our Board and management team consider them appropriate for supplemental analysis.
Our Board and management team use Adjusted EBITDA to assess our financial performance because it allows them to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense and income), asset base (such as depreciation and amortization), and other items (such as non-recurring transactions) that impact the comparability of financial results from period to period.
Net income (loss) is the GAAP measure most directly comparable to Adjusted EBITDA. In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in such presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that its future results will be unaffected by unusual or non- recurring items. There can be no assurance that we will not modify the presentation of Adjusted EBITDA in the future, and any such modification may be material. Adjusted EBITDA has important limitations as an analytical tool and you should not consider Adjusted EBITDA in isolation or as a substitute for analysis of our results as reported under GAAP. Because Adjusted EBITDA may be defined differently by other companies in our industry, its definition of this non-GAAP financial measure may not be comparable to similarly titled measures of other companies, thereby diminishing its utility. American Bitcoin Corp. Unaudited Condensed Consolidated and Combined Statements of Operations (in USD thousands)
(1) There were no non-recurring transactions for the three months ended September 30, 2026 and June 30, 2026. Contacts American Bitcoin Investor Relations ir@abtc.com American Bitcoin Public Relations media@abtc.com
Full text with the tables
American Bitcoin Reports Third Quarter 2026 Results
Grows Bitcoin Reserve Through Mining Operations, Increases Satoshis Per Share by
Approximately 5%
MIAMI, FL, November 4, 2026 –American Bitcoin Corp.(Nasdaq: ABTC) (“American
Bitcoin” or the “Company”), a Bitcoin accumulation platform focused on building
America’s Bitcoin infrastructure backbone, today reported its financial results
for the third quarter of 2026.
Increased Satoshis Per Share (SPS) by ~5%, from ~10,989¹ as of June 30, 2026 to
~11,572¹ as of September 30, 2026.
Grew Bitcoin holdings from ~8,002 2 as of June 30, 2026 to ~8,427 2 as of
September 30, 2026, an increase of ~425 Bitcoin, or ~5%, in a single quarter.
Mining revenue for Q3 2026 was ~$63.4 million , compared with approximately
$67.0 million in Q2 2026. Revenue per Bitcoin mined was ~$71,100 in Q3 2026
compared with approximately $71,900 in Q2 2026.
Mined ~891 Bitcoin in Q3 2026 , compared with ~932 Bitcoin mined in Q2 2026. Q3
2026 production represented ~21% of the Company’s total Bitcoin mined since its
March 31, 2025 launch.
Gross profit was ~$25.8 million, representing a gross margin of ~41%, compared
with ~$33.0 million and ~49% in Q2 2026. Higher seasonal power costs at our
sites contributed to quarter-over-quarter margin pressure.
Sold a portion of Bitcoin production to cover operating costs while continuing
to build the Company’s strategic Bitcoin reserve.
Cost to mine was ~$42,100 per Bitcoin in Q3 2026, compared with ~$36,500 per
Bitcoin in Q2 2026, primarily reflecting higher seasonal power costs across our
sites.
Net income of ~$126 million in Q3 2026, compared with a net loss of ~$57.2
million in Q2 2026, and Adjusted EBITDA of ~$221 million in Q3 2026, compared
with an Adjusted EBITDA loss of ~$45.0 million in Q2 2026.
Total owned fleet consisted of ~89,242 Bitcoin miners with ~28.1 EH/s of
capacity as of quarter-end.
1. Represents the amount of Bitcoin attributable to each outstanding share of
the Company’s common stock. SPS is calculated by multiplying the Company’s total
Bitcoin holdings by the Satoshi conversion ratio (1 Bitcoin equals 100,000,000
Satoshis), then dividing that total by the number of shares of the Company’s
common stock outstanding as of the measurement date. Number of common shares
issued and outstanding reflect a 1-for-15 reverse stock split effected on July
2, 2026.
2. Includes ~3,090 Bitcoin pledged for miner purchases under agreements with
BITMAIN.
The Company’s Third Quarter 2026 Earnings Conference Call will be held today,
Wednesday, November 4, 2026, at 4:30 p.m. ET. Investors can join the live
webcast athttps://app.webinar.net/pymQJ5mJ37e. To join by telephone, dial 1
(888) 880-3330 ten minutes prior to the start time to allow time for
registration. International callers may dial 1 (646) 357-8766.
The Company expects to make available on its website and/or official social
media channels certain materials and updates designed to accompany the
discussion of its results, along with certain supplemental financial information
and other data, including regarding its Bitcoin holdings and related performance
metrics. For important news and information regarding the Company, including
investor presentations and timing of future investor conferences, visit the
Investor Relations section of the Company’s website, abtc.com/investors, and its
social media accounts, including onX,Instagram, andLinkedIn. The Company uses
its website and social media accounts as primary channels for disclosing key
information to its investors, some of which may contain material and previously
non-public information.
American Bitcoin Corp., a majority-owned subsidiary of Hut 8 Corp., is a Bitcoin
accumulation platform focused on building America’s Bitcoin infrastructure. The
Company delivers institutional-grade exposure to Bitcoin through an industry-
first business model that integrates scaled self-mining operations with
disciplined accumulation strategies. For more information, visitabtc.comand
follow the Company onX at @ABTC.
This press release includes “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended (the “Securities Act”), and Rule 175
promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934,
as amended, and Rule 3b-6 promulgated thereunder, which statements involve
inherent risks and uncertainties. Examples of forward-looking statements
include, but are not limited to, statements relating to the Company’s ability to
efficiently accumulate Bitcoin and continue to grow its strategic Bitcoin
reserve; the Company’s ability to mine Bitcoin at a discount to the prevailing
Bitcoin price; the Company’s ability to grow its Bitcoin holdings and Satoshis
Per Share over time; the Company’s ability to maintain flexibility in its
operations; the Company’s ability to allocate capital in a manner that supports
long-term Bitcoin-per-share growth; the Company’s ability to create lasting
value for shareholders across market cycles; the effect of seasonal power costs
on the Company’s margins and cost to mine; the expected role of Bitcoin and
energy infrastructure in the future of the economy and the Company’s positioning
in its industry; and the Company’s future business strategy, competitive
strengths, expansion, and growth of the business and operations more generally.
Forward-looking statements are not statements of historical fact, but instead
represent management’s expectations, estimates, and projections regarding future
events based on certain material factors and assumptions at the time the
statement was made. While considered reasonable by the Company as of the date of
this press release, such statements are subject to known and unknown risks,
uncertainties, assumptions and other factors that may cause the actual results,
level of activity, performance, or achievements to be materially different from
those expressed or implied by such forward-looking
statements, including, but not limited to: the price of Bitcoin and
concentration of Bitcoin holdings; failure to grow hashrate; the purchase of
miners; competition from other methods of investing in Bitcoin; uncertainty in
the development and acceptance of the Bitcoin network; reliance on third-party
mining pool service providers; hedging transactions; Bitcoin halving events;
failure to realize the anticipated benefits of the merger transactions;
dependence on Hut 8; liquidity constraints and failure to raise additional
capital; failure of critical systems; competition from current and future
competitors; changes in leasing arrangements; hazards and operational risks;
electrical power requirements; geopolitical, social, economic, and other events
and circumstances; cybersecurity threats and breaches; Internet-related
disruptions; dependence on key personnel; having a limited operating history;
rapidly changing technology; predicting facility requirements; acquisitions,
strategic alliances or joint ventures; operating and expanding internationally;
legal, regulatory, governmental, and technological uncertainties; physical risks
related to climate change; involvement in legal proceedings; stock price
volatility; the Company’s multi-class capital structure and status as a
controlled company; and other factors that may affect the future business,
results, financial position and prospects of the Company. Additional factors
that could cause results to differ materially from those described above can be
found in the Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2025, and in other documents filed by the Company from time to time
with the SEC.
In addition to our results determined in accordance with GAAP, we rely on
Adjusted EBITDA to evaluate our business, measure our performance, and make
strategic decisions. Adjusted EBITDA is a non-GAAP financial measure. We define
Adjusted EBITDA as net income (loss), adjusted for impacts of income tax
provision, depreciation and amortization, loss (gain) on derivatives, gain on
warrant liability, the removal of non-recurring transactions, and stock-based
compensation expense in the period presented. You are encouraged to evaluate
each of these adjustments and the reasons that our Board and management team
consider them appropriate for supplemental analysis.
Our Board and management team use Adjusted EBITDA to assess our financial
performance because it allows them to compare our operating performance on a
consistent basis across periods by removing the effects of our capital structure
(such as varying levels of interest expense and income), asset base (such as
depreciation and amortization), and other items (such as non-recurring
transactions) that impact the comparability of financial results from period to
period.
Net income (loss) is the GAAP measure most directly comparable to Adjusted
EBITDA. In evaluating Adjusted EBITDA, you should be aware that in the future we
may incur expenses that are the same as or similar to some of the adjustments in
such presentation. Our presentation of Adjusted EBITDA should not be construed
as an inference that its future results will be unaffected by unusual or non-
recurring items. There can be no assurance that we will not modify the
presentation of Adjusted EBITDA in the future, and any such modification may be
material. Adjusted EBITDA has important limitations as an analytical tool and
you should not consider Adjusted EBITDA in isolation or as a substitute for
analysis of our results as reported under GAAP. Because Adjusted EBITDA may be
defined differently by other companies in our industry, its definition of this
non-GAAP financial measure may not be comparable to similarly titled measures of
other companies, thereby diminishing its utility.
American Bitcoin Corp. Unaudited Condensed Consolidated and Combined Statements
of Operations (in USD thousands)
Three Months September 30,
Ended 2026 June 30, 2026
──────────────────────────────────────────────────────────────────────────────
Revenue $ 63,355 $ 67,015
Cost of
revenue
(exclusive of
depreciation 37,524 34,009
and
amortization
shown
below)
Operating
expenses
(income):
Depreciation
and 28,579 28,237
amortization
General and
administrative 2,758 7,672
expenses
(Gain) loss on (197,340 ) 71,178
digital assets
Total
operating (166,003 ) 107,087
(income)
expenses
Operating 191,834 (74,081 )
income (loss)
Other
(expense)
income:
(Loss) gain on (64,276 ) 18,315
derivatives
Gain on
warrant 6 22
liability
Other
(expense) (64,270 ) 18,337
income
Income (loss)
before income 127,564 (55,744 )
taxes
Income tax (1,577 ) (1,407 )
provision
Net income $ 125,987 $ (57,151 )
(loss)
Adjusted EBITDA Reconciliation
Three Months Ended
September 30, 2026 June 30, 2026
──────────────────────────────────────────────────────────────────────────────
Net income (loss) $ $
125,987 (57,151)
Income tax provision 1,577 1,407
Depreciation and 28,579 28,237
amortization
Loss (gain) on 64,276 -18,315
derivatives
Gain on warrant -6 -22
liability
Non-recurring — —
transactions (1)
Stock-based 384 812
compensation expense
Adjusted EBITDA $ $
220,797 (45,032)
(1) There were no non-recurring transactions for the three months ended
September 30, 2026 and June 30, 2026. Contacts American Bitcoin Investor
Relations ir@abtc.com American Bitcoin Public Relations media@abtc.com