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American Bitcoin (NASDAQ: ABTC), the cryptocurrency mining enterprise supported by Eric Trump and Donald Trump Jr., announced a robust third quarter.
American Bitcoin recorded earnings of $64.2 million, representing a 453% increase compared to the same period last year, while net profit surged to $3.47 million, recovering from a $576,000 deficit in the corresponding timeframe of the previous year.
The Miami-based miner, which emerged as an independent public entity after separating from Hut 8 and merging with Gryphon Digital Mining, has rapidly scaled its operations.
In Q3, American Bitcoin boosted its mining capacity approximately 2.5 times to 25 exahash per second (EH/s), attaining an efficiency of 16.3 joules per terahash (J/TH) within its fleet.
The company’s adaptable, “asset-light” mining methodology enabled it to produce bitcoin at prices lower than the market average, while prudent at-market acquisitions led to broader profit margins.
On the treasury side, American Bitcoin gathered over 3,000 BTC during the quarter, concluding Q3 with 3,418 BTC. As of this month, the company’s assets increased to 4,004 BTC, equivalent to 432 satoshis per share.
Eric Trump underscored that the company’s strategy is centered on both production and accumulation, fostering long-term value generation as market dynamics evolve.
Eric Trump disseminated some of the outcomes on X with the brief message “Just getting started! @ABTC”.
Despite solid fundamentals, ABTC shares declined over 13% in pre-market trading on Friday, mirroring a broader retreat in the crypto market as bitcoin fell below $95,000.
Nevertheless, the firm’s prominent support and tactical expansion have attracted investor interest, positioning American Bitcoin as a significant participant in the digital asset landscape.
With a blend of increasing mining output, effective operations, and a rapidly enhancing bitcoin treasury, American Bitcoin is establishing itself as one of the more institutionally oriented, growth-focused bitcoin miners in the market, even amid ongoing price fluctuations.
American Bitcoin merger specifics
In September, American Bitcoin Corp., finalized a stock-for-stock merger with Gryphon Digital Mining, establishing a Nasdaq-listed Bitcoin accumulation platform. The enterprise, primarily owned by Hut 8, integrated mining operations with strategic Bitcoin acquisitions to achieve a structural cost advantage.
At that time, Eric Trump emphasized ABTC as a public vehicle providing investors with direct exposure to Bitcoin while promoting U.S. leadership in the global crypto landscape. The Trump family highlighted alignment with American principles and the utilization of public markets to scale operations effectively.
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