American Bitcoin Reports Third Quarter 2025 Results

Core Insights - American Bitcoin Corp. reported strong financial results for Q3 2025, highlighting a successful dual strategy of scalable mining operations and disciplined market purchases, resulting in the addition of over 3,000 Bitcoin to its reserves [2][7]. Financial Performance - Revenue for Q3 2025 reached $64.2 million, a significant increase from $11.6 million in the same period last year, representing a growth of approximately 453% [9][21]. - Net income for Q3 2025 was $3.5 million, compared to a net loss of $0.6 million in the prior-year period, marking a turnaround in profitability [9][21]. - Adjusted EBITDA for Q3 2025 was $27.7 million, a substantial improvement from a loss of $4.3 million in the previous year [9][22]. Operational Highlights - The company more than doubled its mining capacity, achieving approximately 25.0 exahash per second (EH/s) with an average fleet efficiency of about 16.3 joules per terahash (J/TH) as of September 30, 2025 [7]. - Gross margin increased from 49% to 56% quarter-over-quarter, indicating improved cost efficiency and operational effectiveness [7]. Strategic Developments - American Bitcoin completed a stock-for-stock merger with Gryphon Digital Mining, Inc., which was finalized on September 3, 2025, enhancing its market position [6][8]. - The company began trading under the ticker symbol "ABTC" following the merger, marking its debut on Nasdaq [7]. Bitcoin Holdings - As of September 30, 2025, American Bitcoin held a total of 3,418 Bitcoin in reserve, equivalent to 371 Satoshis per share (SPS) [7].