*

American Bitcoin's ( ABTC ) quarterly revenue more than doubles

*

Company's bitcoin holdings swell to 4,004

*

American Bitcoin ( ABTC ) mines at less than half the cost, CEO

says

(Adds executive comments from conference call in paragraphs 4

and 7, background and context on crypto markets throughout,

updates stock move in paragraph 8)

By Manya Saini

Nov 14 (Reuters) - American Bitcoin ( ABTC ), backed by

two of U.S. President Donald Trump's sons, swung to

third-quarter profit on Friday as the miner and buyer of the

world's largest digital asset benefited from wider margins.

Crypto has drawn strong interest this year, with investors

betting on looser oversight under the new Trump administration

and bitcoin trading at record levels, even though the token's

rally has slowed in recent weeks.

Eric Trump is American Bitcoin's ( ABTC ) co-founder and chief

strategy officer, while Donald Trump Jr. is a stockholder in the

company.

"Since our Nasdaq debut, we've added over 3,000 bitcoin to

our reserves, steadily advancing among the world's leading

public bitcoin treasuries," Eric Trump said in a post-earnings

conference call.

The company, a majority-owned subsidiary of Hut 8 Corp ( HUT ), is

the latest in a series of crypto ventures by the Trump family,

including a meme coin and World Liberty Financial, a crypto

company partly owned by the president.

Bitcoin mining uses specialized computers to solve complex

calculations that secure the network and generate new bitcoins.

"While conventional vehicles accumulate bitcoin at spots, we

mine at less than half the cost," CEO Mike Ho said in a

conference call.

CRYPTO TREASURY PUSH

American Bitcoin's ( ABTC ) shares, which initially rose after

the results, fell 1.3% in morning trading as bitcoin slipped

2.6%.

Stocks of crypto treasury companies typically move in

line with the token's price as shifts in prices directly affect

the value of reserves.

Crypto prices have tumbled in recent weeks amid a broad

pullback in risk assets, with bitcoin going deeper into the red

on Friday.

Still, digital asset treasuries have grown at a swift

pace this year as firms added sizable token positions to their

balance sheets to capture the rally.

It held 4,004 bitcoins as of November 5. Based on the

digital asset's previous close, the holding is worth roughly

$400 million.

The push has been spurred by the Trump administration's

pledge to make the U.S. a global leader in the crypto space and

promise of a lighter regulatory approach.

President Trump has faced criticism from government ethics

experts and political opponents who say his stance raises

concerns about potential conflicts of interest.

American Bitcoin ( ABTC ) reported revenue of $64.2 million in the

three months ended September 30, compared with $11.6 million in

the prior-year period. Its gross margin expanded to 56% from 49%

in the prior quarter.

The company posted a net income of $3.5 million in the third

quarter, compared with a loss of $0.6 million for the prior-year

period.