Trump Family-Linked American Bitcoin Posts Q3 Profit, Doubles Revenue

Why It Matters

The earnings highlight the scaling potential and profitability of publicly listed crypto miners, but the sharp share decline underscores the sector's vulnerability to Bitcoin price swings, a key risk for investors.

Summary

American Bitcoin (ABTC), in which Donald Trump Jr. and Eric Trump hold a 20% stake, reported a Q3 net income of $3.47 million, reversing a $576,000 loss from a year earlier, while revenue surged five‑fold to $64.2 million. The miner expanded its hash rate to roughly 25 exahash per second, adding 3,000 BTC to bring total holdings to about 4,004 BTC. The company completed its spin‑out from Hut 8 after merging with Gryphon Digital Mining, leaving Hut 8 with an ~80% stake. Despite the strong fundamentals, shares fell more than 13% in pre‑market trading as Bitcoin slipped to around $94,900.