Trump-linked Bitcoin miner American Bitcoin (NASDAQ: ABTC) dropped 2% at market open today opening despite strong Q3 results as a broader sell-off pummels crypto and equities.
American Bitcoin increased its revenue from the same quarter in 2024 from $11.6 million to $64.2 million, while gross margin grew 7% quarter-over-quarter, per the company’s financials.
The company generated 563 bitcoin over the quarter, more than half of the 1,006 bitcoin produced during the first nine months of 2025. The company attributed the increase to exercising an option to buy 17,280 Bitmain U3S21EXPH miners totaling 15 exahash per second. The units lifted the American Bitcoin’s operational hashrate above 21.9 EH/s by September 30.
American Bitcoin said it added more than 3,000 bitcoin to its strategic reserve during the quarter from mining and at-the-market purchases. The company reported holdings of 3,418 bitcoin as of September 30, with a further 447 bitcoin added over the course of October, for a total of 3,865 bitcoin.
The miner reported that the buys were funded through open-market purchases and its integrated mining operations. American Bitcoin said a majority of its holdings remain pledged as collateral under its purchase program with Bitmain.
In September, the mining company debuted on Nasdaq with a 80% gain and triggered multiple volatility halts. The company was formed through a combination of Hut 8’s energy infrastructure assets and American Data Centers, a Trump-family founded company.
