American Bitcoin (NASDAQ: ABTC ), the cryptocurrency mining company backed by Eric Trump and Donald Trump Jr., reported a strong third quarter.
US Bitcoin had revenue of $64.2 million, up 453% year-over-year, while net income rose to $3.47 million, reversing a loss of $576,000 in the same period last year.
The Miami-based miner, which became an independent public entity after spinning off from Hut 8 and merging with Gryphon Digital Mining, has aggressively scaled its operations.
During the 3rd quarter, American Bitcoin expanded its mining capacity approx. 2.5 times to 25 exahash per second (EH/s), with the fleet achieving an efficiency of 16.3 joules per terahash (J/TH).
The company’s scalable, “asset-light” mining approach allowed it to generate bitcoin below market prices, while disciplined purchases in the market contributed to wider profit margins.
On the financial front, US Bitcoin accumulated over 3,000 BTC during the quarter, ending Q3 at 3,418 BTC. As of this month, the company’s holdings grew to 4,004 BTC, equivalent to 432 satoshis per share.
Eric Trump emphasized that the company’s strategy focuses on both production and accumulation, which strengthens long-term value creation when market conditions fluctuate.
Eric Trump shared some of the results on X with the short message “Just getting started! @ABTC”.
Despite strong fundamental declines, ABTC shares fell more than 13% in pre-market trading on Friday, reflecting a broader crypto market pullback as bitcoin dipped below $95,000.
Nevertheless, the company’s high-profile backing and strategic expansion have drawn investors’ attention and positioned American Bitcoin as a notable player in the digital asset ecosystem.
With a combination of growing mining output, efficient operations, and a rapidly growing bitcoin treasury, US Bitcoin is staking a claim to be one of the more institutionally oriented, growth-focused bitcoin miners on the market, even amid ongoing price turbulence.
US Bitcoin Merger Information
Back in September, American Bitcoin Corp. a stock-for-stock merger with Gryphon Digital Mining, creating a Nasdaq-listed Bitcoin accumulation platform. The company, majority owned by Hut 8, combined mining with strategic Bitcoin purchases to achieve a structural cost advantage.
At the time, Eric Trump touted ABTC as a public vehicle that gives investors direct exposure to Bitcoin while promoting US leadership in the global crypto economy. The Trump family emphasized alignment with American values ​​and leveraging public markets to scale operations efficiently.