Eric Trump’s American Bitcoin Banks $126M Profit—But ABTC Shares Dive

American Bitcoin Corp, co-founded by Eric Trump, reported $126 million in third-quarter net income and $221 million in adjusted EBITDA, reversing previous losses. The Nasdaq-listed company expanded its holdings to 8,427 BTC, ranking 13th among public corporate holders. While a $197 million gain on Bitcoin holdings boosted the books, shares dove as mining costs increased by 15.3% and production declined. The Hut 8-backed miner's profitability was largely driven by the rise in Bitcoin prices.