Key Highlights
- Q1 2026 saw American Bitcoin register an $81.8 million net loss, larger than the $59.5 million loss recorded in Q4 2025.
- Quarterly revenue declined 20.7% to $62.1 million, impacted by Bitcoin’s 22% price decrease throughout the period.
- 817 BTC were mined during Q1, marking the company’s strongest quarterly production to date.
- Production costs per Bitcoin decreased 23% to $36,200, maintaining gross margins above the 50% threshold.
- Shares of ABTC finished Wednesday at $1.25, gaining 1.63%, while posting a 40.5% increase over the previous month.
American Bitcoin (ABTC) disclosed an $81.8 million net loss for Q1 2026, with Bitcoin’s significant price decline weighing heavily on the company’s financial performance.
Shares ended Wednesday’s session at $1.25, posting a 1.63% gain for the day. The stock has climbed 40.5% over the trailing month, though it continues to show a 72.5% decline across the six-month timeframe.
Quarterly revenue reached $62.1 million, representing a 20.7% decrease from the $78.3 million reported in Q4 2025. The major factor behind this decline was a $117.2 million loss on digital asset holdings, resulting from Bitcoin’s 22% price fall during the quarter—dropping from approximately $87,500 to $68,200.
Total operating expenses for the three-month period amounted to $150.7 million.
CEO Mike Ho addressed the headline figures by emphasizing that when non-cash mark-to-market accounting entries mandated by FASB regulations are excluded, the core operations remained profitable. The company maintained a zero-sell policy on Bitcoin throughout the entire quarter.
Mining Operations Reach New Heights
Operational performance during Q1 demonstrated significant strength. American Bitcoin generated 817 BTC, establishing a new company record for quarterly production. The company also acquired 803 BTC for treasury holdings through direct purchases.
The combined acquisition of 1,620 BTC elevated total holdings to 7,021 BTC by March 31. This expansion drove the company’s Satoshi-per-share metric up by 20%.
Production expenses per Bitcoin dropped to $36,200 in Q1, representing a 23% reduction from the $46,900 cost in Q4 2025. Management attributed this improvement to increased production volume distributed across stable fixed costs, combined with more favorable energy pricing agreements.
Gross margin from mining operations remained above 50%, settling at 52% despite challenging Bitcoin market conditions. Total mining gross profit for the quarter reached $32.5 million.
Infrastructure Growth Continues
During early March, American Bitcoin acquired 11,298 mining units from Bitmain, boosting capacity by 3.05 EH/s. At quarter end, the company operated 89,242 miners delivering a combined hash rate of 28.1 EH/s.
Eric Trump, serving as Chief Strategy Officer, characterized the quarterly performance as validation of the company’s fundamental business model. “We mined 817 Bitcoin at a 47% discount to spot, added more than 1,600 Bitcoin to our strategic reserve, and did so with strong margins,” he stated.
He emphasized that within eight months of becoming publicly traded, American Bitcoin has secured the position of 16th largest Bitcoin holder worldwide.
Management confirmed plans to maintain its dual-track accumulation approach—producing Bitcoin at structurally lower costs while leveraging ATM-funded acquisitions to expand treasury holdings. The recent activation of the Drumheller facility is anticipated to drive further operational improvements.
Premarket activity following the earnings announcement showed ABTC advancing 0.81% to $1.24.
