Trump brothers’ American Bitcoin whipsaws amid Q3 results and BTC reserve boost
American Bitcoin reported strong Q3 revenue and expanded BTC reserves, causing its stock to initially drop before recovering.Summary
American Bitcoin Corp. (ABTC), co-founded by Eric and Donald Trump Jr., announced robust third-quarter results, including revenue soaring to $64.2 million from $11.6 million year-over-year, and achieving a net income of $3.5 million. Despite an initial 15.6% drop in pre-market trading, tracking a broader market downturn, the stock recovered in early trading.
The company significantly increased its strategic Bitcoin reserves, adding over 3,000 BTC during the quarter to end September with 3,418 BTC, and holding approximately 4,090 BTC as of November 13. CEO Michael Ho highlighted that they more than doubled mining capacity and revenue. Co-founder Eric Trump emphasized the strategy of generating Bitcoin below market through scalable, asset-light mining operations to compound shareholder value.
(Source：The Block)