Highlights

  • Third quarter Revenue was USD 63,355 thousand against USD 64,220 thousand a year ago.
  • Net income was USD 125,987 thousand against USD 3,475 thousand a year earlier.
  • The reserve was approximately 8,427 Bitcoin, with 3,090 pledged for miner purchases.
  • Management put the cost to mine at about USD 42,100 per Bitcoin.

American Bitcoin Corp. (NASDAQ:ABTC) shares were trading near their all-time low at USD 5.23 on November 6, 2026. The Bitcoin accumulation company reported third quarter revenue of USD 63,355 thousand and Net Income of USD 125,987 thousand.

The company describes its Business objective as Bitcoin accumulation, pursued through Bitcoin mining, reserve expansion and ecosystem engagement. It had 26,810,553 shares of Class A common stock and 46,011,753 shares of Class B common stock outstanding as of November 2, 2026. Per share figures reflect a 1-for-15 Reverse Stock Split effected on July 2, 2026.

The Quarter in Numbers

Revenue was USD 63,355 thousand against USD 64,220 thousand in the third quarter of 2025. For the nine months ended September 30, 2026, revenue was USD 192,488 thousand against USD 106,843 thousand a year earlier.

Operating income was USD 191,834 thousand against USD 7,199 thousand. Net income was USD 125,987 thousand against USD 3,475 thousand. For the nine months, the company reported a net loss of USD 12,956 thousand against a net loss of USD 93,717 thousand in the same period of 2025.

Cost of revenue was USD 37.5 million against USD 28.3 million. Depreciation and amortization was USD 28.6 million against USD 15.2 million. General and administrative expenses were USD 2.8 million against USD 8.1 million, which included USD 5.2 million of merger-related Transaction Costs in the 2025 quarter.

Bitcoin Reserve and Per Share Focus

As of September 30, 2026, the company held approximately 8,427 Bitcoin in reserve and ranked among the top 15 publicly traded Bitcoin treasury companies by holdings, according to its filing. Of that total, 3,090 Bitcoin were pledged for miner purchases.

On the balance sheet, digital Assets held in custody were USD 445,149 thousand, and current digital assets pledged for miner purchase were USD 198,947 thousand. Non-current digital assets pledged for miner purchase were USD 58,827 thousand.

On the call, management said it focuses on Bitcoin per share and that the measure was up approximately 184% in roughly 13 months from the Nasdaq debut through the end of the third quarter.

Mining Operations and Cost to Mine

Management said the company mined approximately 891 Bitcoin in the third quarter against 932 in the second quarter. It put the cost to mine at about USD 42,100 per Bitcoin, up from about USD 36,500 in the second quarter.

The filing notes that deployments at the Vega site in August and September 2025 added approximately 14.86 EH/s to the mining fleet. Further miners were deployed at the Drumheller site in March and April 2026.

Other Expense and Derivatives

Other expense was USD 64.3 million in the quarter against USD 2.0 million a year earlier. The filing attributes the USD 62.3 million increase to losses on Derivatives tied to the Bitcoin Redemption and put options with Bitmain.

For the nine months, other expense was USD 8.6 million against other income of USD 18.9 million. The income tax provision was USD 1.6 million in the quarter against USD 1.8 million.

Cash Flow and Balance Sheet

Net cash used in Operating Activities was USD 72.4 million for the nine months against USD 43.1 million in the same period of 2025. Total liabilities were USD 130,253 thousand at September 30, 2026, and total stockholders' Equity was USD 798,443 thousand.

The accumulated Deficit was USD 65,504 thousand. Total current assets were USD 297,009 thousand against USD 8,924 thousand at December 31, 2025.