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- The publicly traded US bitcoin mining company reported net losses of about $82 million in the first quarter of 2026, up from $59.4 million in the fourth quarter of 2025.
- The company added more than 1,600 BTC to its wallet, which now stands at more than 7,300 BTC, or $583 million.
- Shares of the company (ABTC) were down 9% on the day, most recently trading at $1.13, about 92% off their post-IPO high of $14.65.
Publicly traded shares Bitcoin Miner and treasury company American Bitcoin (ABTC) fell more than 9% on Thursday after a 20% drop in quarterly mining revenue and reported net losses of about $82 million during the first quarter of 2026 — a 37% jump from its fourth-quarter 2025 losses.
The company, co-founded by Eric Trump, boosted its bitcoin holdings by more than 1,600 bitcoins during the quarter and reduced costs associated with bitcoin mining to about $36,200 per coin, down from $46,900 during the fourth quarter. The company owns about $583 million worth of Bitcoin.
“Q1 2026 was a quarter of continued momentum in the resilient business amid adverse market conditions,” Mike Ho, CEO of American Bitcoin, said in a statement. statement.
“Bitcoin was down approximately 22% QoQ, creating significant non-cash headwinds through our GAAP,” he said, adding that without the required “non-cash market adjustment,” the company was profitable without selling any Bitcoin.
While many Bitcoin miners are focusing on providing computing power to the demand for artificial intelligence, including… Bitcoin’s US parent company, Hut 8— ABTC expanded its mining operations during the quarter by adding more than 11,000 Bitmain mining rigs, bringing its entire fleet to nearly 90,000 miners.
“Just over a year ago, American Bitcoin did not exist,” Trump, chief strategy officer at US Bitcoin, said in a statement. “Today we hold over 7,300 bitcoins and stand among the largest publicly traded bitcoin companies in the world, backed by a fleet of nearly 90,000 miners.”
US President Donald Trump’s son added: “This is exactly what we were built to do: collect Bitcoin efficiently and at scale.”
While the company’s shares fell on Thursday, ABTC has traded up nearly 30% in the last month of trading, most recently trading at $1.13. At this mark, shares are trading about 92% below their post-IPO high of $14.65.
The company came to fruition last year when Along with publicly traded Bitcoin miner HT8. It was later merged with publicly traded Bitcoin mining company Gryphon Digital is in a stock-for-stock merger.
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