American Bitcoin increases BTC holdings by 5% in Q3

American Bitcoin (ABTC) reported a third-quarter net income of approximately 126 million dollars and adjusted EBITDA of about 220.8 million dollars. The company's Bitcoin holdings increased by 425 BTC, or 5%, reaching around 8,427 BTC at the end of September, up from about 8,002 BTC at the end of June. ABTC expanded its holdings through mining during the quarter without issuing new shares or purchasing Bitcoin. Third-quarter production was approximately 891 BTC, a decrease from 932 BTC in the previous quarter, while mining costs rose to about 42,100 dollars per BTC from 36,500 dollars. The company sold part of its mined Bitcoin to cover operating costs while increasing its strategic Bitcoin holdings.

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