American Bitcoin Reports $126 Million Profit in Q3

• American Bitcoin reported a Q3 net income of $126 million.
• This is a significant improvement from the $57.2 million net loss in Q2.
• The profit was largely due to a $197.3 million gain on the company’s bitcoin holdings.
• The Miami-based company’s bitcoin holdings increased by $197.3 million.
• The profit was not driven by mining revenue.