--- title: "American Bitcoin Swings to $126M Net Income in Q3 as Reserve Hits 8,427 BTC" description: "The Hut 8 subsidiary expanded its treasury by 425 Bitcoin and posted $221 million in adjusted EBITDA despite elevated seasonal electricity costs." url: https://basisdesk.news/news/american-bitcoin-reports-q3-2026-net-income-treasury-growth published: 2026-11-04T21:41:37.228Z modified: 2026-11-04T21:41:37.228Z section: Mining & Infrastructure author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: bullish tickers: [BTC] tags: [American Bitcoin, Hut 8, Bitcoin Mining, Corporate Treasury, Earnings] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # American Bitcoin Swings to $126M Net Income in Q3 as Reserve Hits 8,427 BTC The Hut 8 subsidiary expanded its treasury by 425 Bitcoin and posted $221 million in adjusted EBITDA despite elevated seasonal electricity costs. ## At a glance - **What happened:** American Bitcoin Corp. reported $126 million in Q3 2026 net income and grew its strategic Bitcoin reserve to 8,427 BTC. - **Why it matters:** The company expanded its treasury holdings without issuing common equity or making direct secondary market crypto purchases. - **Who is affected:** American Bitcoin Corp. shareholders and parent entity Hut 8 Corp. - **What's next:** Management hosted its Q3 earnings conference call on Nov. 4, 2026, at 4:30 p.m. ET. - **Primary source:** [American Bitcoin Reports Third Quarter 2026 Results](https://www.prnewswire.com/news-releases/american-bitcoin-reports-third-quarter-2026-results-302929390.html) — PR Newswire ## Key points - American Bitcoin posted $126 million in net income and $221 million in adjusted EBITDA for Q3 2026, reversing losses from the second quarter [1]. - Bitcoin treasury reserves expanded 5% to 8,427 BTC as of Sept. 30, with Satoshis Per Share increasing to 11,572 without equity dilution [1]. - Average mining costs rose to $42,100 per Bitcoin due to seasonal utility rates, reducing gross margins from 49% to 41% [1]. ## Editorial remark - **Context:** American Bitcoin launched operations on March 31, 2025, operating as an accumulation-focused mining vehicle majority-owned by Hut 8. The firm executed a 1-for-15 reverse stock split on July 2, 2026. - **Impact:** Shareholders avoided equity dilution during the quarter as treasury accumulation relied strictly on internal fleet production rather than at-the-market offerings, though higher operating power costs squeezed mining margins. - **Watch:** Execution on remaining Bitmain rig deliveries tied to the 3,090 pledged Bitcoin, alongside winter power cost adjustments across operational facilities. American Bitcoin Corp. reported $126 million in net income for the third quarter of 2026, rebounding from a net loss of $57.2 million in the prior quarter, according to an earnings release published on Nov. 4 [1]. The company, which trades on Nasdaq under the ticker ABTC, also booked $221 million in adjusted EBITDA, reversing an adjusted EBITDA loss of $45 million in the second quarter [1]. At the time of writing, $BTC traded at $80,116, gaining 2.9% over the past 24 hours. The majority-owned subsidiary of Hut 8 Corp. expanded its total treasury to approximately 8,427 Bitcoin as of Sept. 30, up about 5% from 8,002 Bitcoin on June 30 [1]. That balance includes roughly 3,090 Bitcoin pledged for hardware purchases under contracts with Bitmain [1]. Chief Executive Officer Mike Ho stated that the firm accumulated the 425 additional tokens purely through mining operations, avoiding both direct market purchases and common stock issuances under its at-the-market program [1]. The expansion lifted the company's metric of Satoshis Per Share by roughly 5%, moving from 10,989 to 11,572 [1]. ## Power Costs Squeeze Mining Margins Operational margins faced headwinds from higher summertime energy expenses [1]. American Bitcoin produced approximately 891 Bitcoin during the quarter, down from 932 Bitcoin in the second quarter of 2026 [1]. Mining revenue slipped to about $63.4 million compared with $67 million in the previous period, with revenue per mined Bitcoin softening slightly from roughly $71,900 to $71,100 [1]. Direct production costs climbed from roughly $36,500 per Bitcoin in the second quarter to $42,100 per Bitcoin in the third quarter, driven by higher seasonal power rates across operating facilities [1]. Consequently, gross profit dropped to $25.8 million, yielding a gross margin of 41% compared to 49% in the prior quarter [1]. The company noted it sold a portion of its mined output to settle operating expenses while directing the remainder to its strategic reserve [1]. As of Sept. 30, American Bitcoin operated an owned fleet of approximately 89,242 mining rigs delivering 28.1 exahashes per second (EH/s) of computing capacity [1]. Third-quarter output represented roughly 21% of the total Bitcoin the platform has mined since commencing operations on March 31, 2025 [1]. The results come as the broader market debates reserve accumulation models and mining resilience amid shifting structural conditions, detailed in recent discussions on how the [Bitcoin Midterm Bottom Pattern Tested as 2026 Cycle Diverges From History](https://basisdesk.news/news/bitcoin-midterm-bottom-pattern-diverges-historical-cycles). ## Sources 1. [American Bitcoin Reports Third Quarter 2026 Results](https://www.prnewswire.com/news-releases/american-bitcoin-reports-third-quarter-2026-results-302929390.html) — PR Newswire, 2026-11-04 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai