US Bitcoin Miner Reports $126M Profit as Rivals Shift Toward AI

American Bitcoin reported a quarterly net income of $126 million, but the company’s underlying mining economics weakened as power costs rose and mining profits declined. The headline result was heavily supported by a large noncash gain tied to its Bitcoin holdings, leaving investors to focus on whether the miner’s accumulation-led strategy can hold up as rivals increasingly pursue artificial intelligence as a parallel growth path. In its earnings update, the Eric Trump -backed firm said mining revenue fell 5.5% quarter over quarter to $63.4 million, while the cost to mine one bitcoin increased by about 15% to roughly $42,100.