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H.C. Wainwright Sets $22 Price Target on American Bitcoin, Citing Low Mining Costs

BullishMedium impact
ABTC$8.17 5.69%

American Bitcoin (ABTC) saw its stock move higher after investment firm H.C. Wainwright assumed coverage with a Buy rating and a $22 price target. The price target represents roughly 185% upside compared to Friday's closing price of $7.73. Analysts highlighted the company's position as a low-cost Bitcoin miner that retains the crypto assets it creates rather than selling them to fund operations.

Low production costs serve as the foundation for the bullish outlook. American Bitcoin produced Bitcoin at approximately $36,500 per token during the second quarter, well below market prices near $83,500. By keeping its mined assets on its balance sheet, the company has built a reserve of 8,300 Bitcoin. The firm, which was established in 2025 and is majority-owned by Hut 8 (HUT), has gained positive attention from multiple Wall Street research houses, pushing its average analyst price target to $14.67.

Investors will look to the company's upcoming third-quarter financial results scheduled for release after the market closes on November 4. Consensus forecasts call for revenue of $71.33 million, up from $67.02 million in the previous quarter, along with a narrower loss of $0.08 per share compared to $0.80 per share in the second quarter.

Key points

  • H.C. Wainwright assumed coverage on American Bitcoin (ABTC) with a Buy rating and a $22 price target.
  • The target implies nearly 185% upside from Friday's closing price of $7.73 per share.
  • American Bitcoin holds 8,300 Bitcoin in reserve and spent about $36,500 per token mined in Q2.
  • Third-quarter earnings are set for November 4, with revenue projected at $71.33 million.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

Why did American Bitcoin stock rise?

H.C. Wainwright started coverage on American Bitcoin with a Buy rating and a $22 price target, citing low mining costs and a strong Bitcoin reserve.

How much Bitcoin does American Bitcoin hold?

American Bitcoin holds 8,300 Bitcoin on its balance sheet, retaining the digital assets it mines to expand its reserves.

When does American Bitcoin report Q3 earnings?

American Bitcoin is scheduled to report its third-quarter financial results after the market closes on November 4.