American Bitcoin Corp.(ABTC) reported a strong third quarter, showcasing a sharp rise in revenue, mining capacity, and profitability. The company’s stock traded at $4.6662, marking a 1.56% daily decline despite robust financial performance.
American Bitcoin Corp, ABTC
The results reflected the effectiveness of its dual accumulation model that merges mining operations with at-market Bitcoin purchases.
American Bitcoin recorded revenue of $64.2 million in Q3 2025, rising from $11.6 million in the same period last year. Net income reached $3.5 million, reversing a $0.6 million loss from the prior year. Adjusted EBITDA stood at $27.7 million compared to a negative $4.3 million in 2024, indicating a substantial operational turnaround.
The company achieved a 56% gross margin, up from 49% last quarter, emphasizing improved efficiency and cost control. This margin growth demonstrated the scalability of its asset-light mining operations and disciplined execution. The firm also maintained focus on expanding capacity while strengthening profitability.
American Bitcoin’s strategic approach to Bitcoin accumulation resulted in tangible financial momentum. The company’s emphasis on operational discipline translated into solid earnings and a sustainable revenue model. This financial improvement positioned it strongly in the competitive mining industry.
By the end of September 2025, the company held 3,418 Bitcoin in reserve, equal to 371 Satoshis Per Share. Of these holdings, 2,385 Bitcoins were pledged or collateralized as part of its strategic financing structure. This accumulation strategy combined mining output with market purchases to optimize reserves.
The hybrid accumulation model enabled the company to obtain Bitcoin below market rates through efficient mining. At the same time, it continued disciplined market purchases to build long-term value. The firm used this model to strengthen its asset base and maintain a consistent growth trajectory.
American Bitcoin’s asset-light operations minimized capital expenditure while maximizing Bitcoin yield. This model reduced exposure to volatile mining costs and stabilized reserve growth. It also provided flexibility to adapt to market fluctuations effectively.
During the quarter, the company expanded its mining capacity by 2.5 times, reaching nearly 25.0 exahash per second. Approximately 21.9 EH/s was operational by the end of the quarter, with an average efficiency of 16.3 joules per terahash. The expansion reinforced its position among the leading U.S.-based mining operators.
The company completed a stock-for-stock merger with Gryphon Digital Mining, debuting under the Nasdaq ticker “ABTC.” This merger enhanced scale, operational strength, and shareholder value. It also integrated Gryphon’s infrastructure with American Bitcoin’s accumulation platform.
Earlier in 2025, Hut 8 Corp. transferred its Bitcoin mining segment to American Bitcoin, creating a standalone entity. The restructuring provided a clear operational framework for growth and financial transparency. As a result, American Bitcoin emerged as a focused platform driving America’s Bitcoin infrastructure backbone.
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