American Bitcoin Corp Q3 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

American Bitcoin Q3 2026 Earnings Summary

Focus: Efficient Bitcoin mining and accumulation at a structural discount to spot price, with emphasis on long-term Bitcoin per share growth. Operations prioritized economic output over maximum uptime during high power demand in markets like Texas (ERCOT peak of 91.1 GW on July 22, +6% YoY).

Key Financial Highlights (Q3 2026 vs Q2 2026)

  • Bitcoin Mined: 891 BTC (down from 932 BTC)
  • Revenue: $63.4 million (down ~5% from $67 million); Revenue per BTC ~$71,000 (down from $71,900)
  • Cost of Revenue: $37.5 million (up from $34 million)
  • Gross Profit: $25.8 million (41% margin, down from $33 million / 49% margin)
  • Cost to Mine per BTC: ~$42,100 (up from ~$36,500); Driven by higher seasonal energy costs
  • Net Income: $126 million (vs net loss of $57.2 million)
  • Adjusted EBITDA: $221 million (includes $197.3 million non-cash gains on digital assets; vs loss of $45 million including $71.2 million loss prior quarter)
  • SG&A: ~4% of revenue (lean structure maintained)

Bitcoin Reserve & Per Share Metrics

  • Bitcoin Treasury: 8,427 BTC at Sept 30 (now >8,500 BTC; +500+ BTC since June 30); 15th largest publicly traded Bitcoin treasury
Professional feature The full AI summary covers key highlights, financial performance and analyst Q&A.
Operator: Good afternoon, and welcome to American Bitcoin's Third Quarter 2026 Earnings Call. Following prepared remarks, we will open the line for questions. Joining us on the call today are American Bitcoin's Chief Executive Officer, Mike Ho; and Co-Founder and Chief Strategy Officer, Eric Trump. As a reminder, this call is being recorded, and a transcript will be made available on abtc.com. Before we begin, please note that during this call, forward-looking statements will be made within the meaning of the federal securities laws. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially. For a detailed discussion of those risks, please refer to American Bitcoin's filings with the Securities and Exchange Commission, including the most recent annual report on Form 10-K for the fiscal year ended December 31, 2025, and subsequent quarterly reports on Form 10-Q. American Bitcoin undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances after the date of this call, except as required by law. During this call, the company may also discuss certain non-GAAP financial measures. A reconciliation of these measures to the most directly comparable GAAP measures is included in the company's earnings release, which is available on the Investor Relations section of our website and was furnished with the Form 8-K filed with the SEC. I would
Professional feature The full transcript includes every speaker turn.