American Bitcoin, a crypto mining and holding company backed by two of U.S. President Donald Trump’s sons, reported a third-quarter profit after strong revenue growth and wider margins.
The company said its revenue rose to $64.2 million in the three months ended 30 September, up from $11.6 million a year earlier. Net income reached $3.5 million, compared with a loss of $0.6 million in the same period last year.
Growing Bitcoin Holdings
American Bitcoin has also expanded its digital asset reserves. Co-founder Eric Trump said the company added more than 3,000 bitcoins since its Nasdaq debut. As of 5 November, it held 4,004 bitcoins, valued at roughly $400 million based on recent prices.
Eric Trump serves as chief strategy officer, while Donald Trump Jr. is a shareholder. The company is majority-owned by Hut 8 Corp and is part of a wider set of crypto ventures connected to the Trump family.
Lower Costs Lift Margins
CEO Mike Ho said American Bitcoin mines bitcoin at less than half the cost of buying it on the market. This advantage helped the company increase its gross margin to 56% from 49% in the previous quarter.
Shares Ease as Bitcoin Falls
The company’s shares rose after the earnings announcement but later slipped 1.3% as bitcoin prices dropped 2.6%. Crypto treasury companies often move in line with the price of bitcoin because their reserves gain or lose value as the market shifts.
Bitcoin has pulled back in recent weeks after reaching record highs.
Support and Scrutiny
American Bitcoin’s growth comes as investors expect lighter crypto regulation under the Trump administration. President Trump has promised to expand U.S. leadership in the digital asset industry.
However, critics say the administration’s close ties to crypto raise concerns about potential conflicts of interest, given the Trump family’s involvement in multiple digital asset ventures.
