American Bitcoin (NASDAQ: ABTC), the cryptocurrency mining company supported by Eric Trump and Donald Trump Jr., has seen a remarkable surge in performance during the third quarter.
The Impressive Growth of American Bitcoin
The Financial Success
American Bitcoin reported a staggering revenue of $64.2 million in Q3, marking a remarkable 453% increase compared to the previous year. Additionally, the company's net income skyrocketed to $3.47 million, a significant turnaround from a $576,000 loss in the corresponding period last year.
Aggressive Mining Expansion
Based in Miami, American Bitcoin transitioned into a standalone public entity following its spin-out from Hut 8 and subsequent merger with Gryphon Digital Mining. Throughout Q3, the company substantially boosted its mining capacity by 2.5 times to reach 25 exahash per second (EH/s) while achieving an impressive efficiency rate of 16.3 joules per terahash (J/TH).
Strategic Approach
American Bitcoin's innovative and scalable mining strategy enabled the company to generate bitcoin at competitive prices, coupled with astute at-market purchases that bolstered profit margins.
The Treasury Growth
Bitcoin Accumulation
American Bitcoin significantly increased its bitcoin holdings during Q3, accumulating over 3,000 BTC and concluding the quarter with 3,418 BTC. Subsequently, the company's holdings surged to 4,004 BTC this month, equivalent to 432 satoshis per share.
Long-Term Vision
Eric Trump emphasized the company's dual focus on production and accumulation, underlining the commitment to creating long-term value amidst fluctuating market conditions.
Transitioning to the market performance, ABTC shares experienced a temporary decline of over 13% in pre-market trading on Friday, reflecting the broader crypto market correction as bitcoin prices dipped below $95,000.
However, despite the short-term market fluctuations, American Bitcoin's prominent support and strategic growth initiatives have captured investors' interest, establishing the company as a key player in the digital asset landscape.
With its expanding mining output, operational efficiency, and growing bitcoin treasury, American Bitcoin is solidifying its position as one of the leading institutionally focused bitcoin miners, navigating through market volatility with resilience.
American Bitcoin's Merger Progress
Merger Insights
In September, American Bitcoin Corp. finalized a stock-for-stock merger with Gryphon Digital Mining, forming a Nasdaq-listed Bitcoin accumulation platform. By combining mining activities with strategic Bitcoin purchases, the company, predominantly owned by Hut 8, gained a strategic cost advantage.
Eric Trump highlighted ABTC as a public avenue offering investors direct exposure to Bitcoin while advancing U.S. dominance in the global crypto sphere. The Trump family accentuated the alignment with American principles and the leveraging of public markets to efficiently scale operations.
Conclusion
American Bitcoin's exceptional growth trajectory and strategic initiatives underscore its resilience and long-term vision in the dynamic cryptocurrency landscape. As the company continues to expand its mining capabilities and bolster its bitcoin treasury, it remains a compelling player in the evolving digital asset market.
Frequently Asked Questions
Can I have a gold ETF in a Roth IRA
While a 401k may not offer this option for you, it is worth considering other options, such an Individual Retirement Plan (IRA).
An IRA traditional allows both employees and employers to contribute. A Employee Stock Ownership Plan, or ESOP, is another way to invest publicly traded companies.
An ESOP provides tax advantages because employees share ownership of company stock and profits the business generates. The tax rate on money that is invested in an ESOP is lower than if it was held in the employees' hands.
Also available is an Individual Retirement Annuity. An IRA allows you to make regular payments throughout your life and earn income in retirement. Contributions to IRAs can be made without tax.
How much gold can you keep in your portfolio
The amount of capital required will affect the amount you make. For a small start, $5k to $10k is a good range. As you grow, it is possible to rent desks or office space. This will allow you to pay rent monthly, and not worry about it all at once. You just pay per month.
Also, you need to think about the type of business that you are going to run. In my case, we charge clients between $1000-2000/month, depending on what they order. If you are doing this type of thing, it is important to think about how much you can expect from each client.
Freelance work is not likely to pay a monthly salary. The project pays freelancers. You might get paid only once every six months.
You must first decide what kind and amount of income you are looking to generate before you can calculate how much gold will be needed.
I recommend starting with $1k-$2k of gold and growing from there.
Is it a good idea to open a Precious Metal IRA
The most important thing you should know before opening an IRA account is that precious metals are not covered by insurance. You cannot recover any money you have invested. This includes all investments that are lost to theft, fire, flood, or other causes.
Investing in physical gold and silver coins is the best way to protect yourself from this type of loss. These items are timeless and have a lifetime value. If you were to offer them for sale today, they would likely fetch you more than you paid when you bought them.
Consider a reputable business that offers low rates and good products when opening an IRA. It's also wise to consider using a third-party custodian who will keep your assets safe while giving you access to them anytime.
When you open an account, keep in mind that you won't receive any returns until your retirement. Don't forget the future!
Which precious metals are best to invest in retirement?
Silver and gold are two of the most valuable precious metals. They are both simple to purchase and sell, and they have been around for a long time. If you want to diversify your portfolio, you should consider adding them to your list.
Gold: The oldest form of currency known to man is gold. It's stable and safe. It is a good way for wealth preservation during uncertain times.
Silver: The popularity of silver has always been a concern for investors. It's a great option for those who want stability. Silver tends to move up, not down, unlike gold.
Platinum: A new form of precious metal, platinum is growing in popularity. It's resistant to corrosion and durable, similar to gold and silver. It is, however, more expensive than its competitors.
Rhodium: Rhodium is used in catalytic converters. It is also used as a jewelry material. And, it's relatively cheap compared to other types of precious metals.
Palladium: Palladium has a similarity to platinum but is more rare. It's also less expensive. For these reasons, it's become a favorite among investors looking to add precious metals to their portfolios.
What does a gold IRA look like?
Individuals who want to invest with precious metals may use the Gold Ira accounts, which are tax-free.
You can buy physical gold bullion coins at any time. You don't have a retirement date to invest in gold.
The beauty of owning gold as an IRA is you can hold on to it forever. Your gold assets will not be subjected tax upon your death.
Your heirs can inherit your gold and avoid capital gains taxes. You don't need to include your gold in your final estate report, as it isn't part of the estate.
To open a gold IRA, you will first need to create an individual retirement account (IRA). Once you've done that, you'll receive an IRA custody. This company acts as an intermediary between you and IRS.
Your gold IRA custodian will handle the paperwork and submit the necessary forms to the IRS. This includes filing annual returns.
Once you've established your gold IRA, you'll be able to purchase gold bullion coins. Minimum deposit required is $1,000 You'll get a higher rate of interest if you deposit more.
You'll have to pay taxes if you take your gold out of your IRA. If you take out the whole amount, you'll be subject to income taxes as well as a 10 percent penalty.
If you only take out a very small percentage of your income, you may not need to pay tax. However, there are exceptions. If you take out 30% of your total IRA assets or more, you will owe federal income taxes and a 20 percent penalty.
You shouldn't take out more then 50% of your total IRA assets annually. If you do, you could face severe financial consequences.
Statistics
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
External Links
finance.yahoo.com
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
bbb.org
cftc.gov
How To
Tips for Investing in Gold
Investing in Gold has become a very popular investment strategy. Because investing in gold has many benefits. There are several ways to invest in gold. Some people prefer to buy gold coins in physical form, while others prefer to invest in gold ETFs.
Before you buy any type of gold, there are some things that you should think about.
- First, check to see if your country permits you to possess gold. If so, then you can proceed. You might also consider buying gold in foreign countries.
- You should also know the type of gold coin that you desire. You have the option of choosing yellow, white, or rose gold.
- Thirdly, you should take into consideration the price of gold. Start small and build up. You should diversify your portfolio when buying gold. Diversifying your portfolio should be a priority, including stocks, bonds and real estate.
- Don't forget to keep in mind that gold prices often change. It is important to stay up-to-date with the latest trends.
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By: Micah Zimmerman
Title: American Bitcoin Corp: Trump Family-Linked Firm Skyrockets Revenue in Q3 Amid Mining Expansion
Sourced From: bitcoinmagazine.com/news/american-bitcoin-doubles-revenue-in-q3
Published Date: Fri, 14 Nov 2025 17:19:35 +0000
