American
Bitcoin
Corp. (NASDAQ: ABTC), a venture supported by Trump and co-founded by Donald Trump Jr. and Eric Trump, has posted its inaugural quarterly profit since going public, marking a notable achievement in its development as a combined Bitcoin mining and treasury operation. For the third quarter of 2025, the company reported revenues of $64.2 million—a 453% increase from the previous year—and a net profit of $3.5 million,
overturning a $0.6 million deficit
from the same period last year. Additionally, the company
grew its Bitcoin holdings to more than 3,418 coins
, with some sources estimating the total exceeded 4,000 BTC by mid-November.
This strong performance resulted from a dual focus on Bitcoin mining and prudent treasury management,
enabling American Bitcoin to obtain
the digital asset at nearly half the price of buying on the open market. The company’s mining power reached 25 exahash per second (EH/s),
making it one of the largest mining firms in the United States
. This growth was supported by a stock-for-stock merger with Gryphon Digital Mining and asset contributions from Canadian miner Hut 8 Corp.,
which now owns an 80% controlling interest
in the business.
Despite strong financial results, the company’s shares experienced volatility,
falling by up to 13% in pre-market trading
after the earnings announcement. This drop reflected wider instability in the crypto sector,
as Bitcoin’s price dipped below $95,000
during the same timeframe. Analysts pointed to investor wariness regarding broader economic risks and the company’s sensitivity to Bitcoin’s price movements. Nevertheless,
company leaders highlighted their asset-light approach
and operational effectiveness, with gross margins rising to 56% in Q3 2025, up from 49% in the previous quarter.
The leadership at American Bitcoin has focused on boosting its "Satoshis Per Share" (SPS) metric,
which tracks the amount of Bitcoin held per share
. As of November 5, the company reported 432 satoshis per share, a 3.35% increase over 12 days.
Co-founder Eric Trump emphasized the company’s capability
to "maximize Bitcoin per share through swift and efficient accumulation," using its hybrid strategy to grow reserves while keeping capital costs low.
The company has also
announced intentions to pursue debt and fixed-income
financing options, along with possible mergers and acquisitions in the digital asset sector. According to Hut 8’s corporate summary,
American Bitcoin
controls
about 25.0 EH/s of the combined group’s 26.8 EH/s
mining capacity, highlighting its central role in the merged company’s operations.
Although the third-quarter results showed operational strength, skepticism in the market remains.
The company’s shares are valued at a price-to-earnings ratio
of 27.5x, which is below the software sector’s average of 32.5x, indicating ongoing investor caution.
The company’s political affiliations have also come under scrutiny
, with some market observers likening its stock behavior to meme-stock volatility amid debates over crypto policy during the Trump era.
Looking forward, American Bitcoin’s future will
depend on Bitcoin’s price trends
, regulatory shifts, and its capacity to continue growing its reserves efficiently. The company’s hybrid business model and strategic alliances with Hut 8 and Gryphon give it a strong position in the changing Bitcoin infrastructure sector, but there are still considerable risks, especially regarding mergers, acquisitions, and regulatory uncertainties.
