American Bitcoin (ABTC) Stock Drops 15% After Trump-Linked Miner Misses Revenue Target
Photo: CoinCentral
TLDR American Bitcoin (ABTC) stock closed Thursday down about 15% at $5.31. Q3 net income hit $126 million, but $197.3 million was a noncash bitcoin gain. Revenue of $63.4 million missed the roughly $74 million estimate. Mining costs rose to $42,100 per bitcoin, and gross margin fell to 41%. The company held 8,427 BTC while rivals pushed into AI data centers. American Bitcoin (ABTC) stock closed Thursday down about 15% at $5.31. The Trump-linked miner had reported third-quarter results the night before. American Bitcoin Corp, ABTC On paper, the numbers looked strong.
Source: CoinCentral
