Eric Trump

American Bitcoin reported a sharp third quarter profit rebound, helped by a large accounting gain on digital assets. Revenue missed expectations as bitcoin output slipped and summer power costs lifted mining expenses.

American Bitcoin board member Justin Mateen bought 306,981 Class A shares across two trading sessions after the company’s latest quarterly update. The purchases lifted his beneficial ownership to 492,297 shares as investors track the miner’s bitcoin treasury strategy.

Matt Prusak is leaving American Bitcoin as president and interim CFO to join Giga Energy as chief business officer and interim CFO. The move highlights a widening shift from bitcoin mining leadership toward power infrastructure and AI-ready data center development.