American Bitcoin (ABTC) reported an $81.8 million net loss for the first quarter of 2026, as a sharp drop in Bitcoin prices cut deep into the company’s financials.
UPDATE: Eric Trump-backed American Bitcoin $ABTC posted an $82 million loss in Q1 2026.
Even as the company grew its Bitcoin reserve nearly 30% QoQ to over 7,000 bitcoin:native.
The firm mined a record 817 bitcoin:native during the quarter.
Maintained a ~52% mining gross… pic.twitter.com/dOTMWLjrA4
— The Crypto Times (@CryptoTimes_io) May 7, 2026
The stock closed at $1.25 on Wednesday, up 1.63% on the day. Over the past month, ABTC has gained 40.5%, though it remains down 72.5% over a six-month period.
Revenue came in at $62.1 million for the quarter, a 20.7% decline from $78.3 million in Q4 2025. The primary drag was a $117.2 million loss on digital assets, driven by Bitcoin’s 22% price drop during the quarter — from roughly $87,500 to $68,200.
Operating expenses for the quarter totalled $150.7 million.
Despite the headline loss, CEO Mike Ho pushed back on the narrative. He noted that stripped of the non-cash mark-to-market accounting required under FASB rules, the underlying business was profitable. The company did not sell a single Bitcoin during the quarter.
Q1 was actually a strong operational quarter for the miner. American Bitcoin produced 817 BTC — its highest quarterly output on record. It also purchased an additional 803 BTC for its treasury.
That combined 1,620 BTC addition brought total holdings to 7,021 BTC as of March 31. The company’s Satoshi-per-share metric rose 20% as a result.
The cost to mine each Bitcoin fell to $36,200 in Q1, down 23% from $46,900 in Q4 2025. The company credited higher production volume spread across a stable fixed cost base, along with tighter energy pricing.
Mining gross margin held above 50% — landing at 52% — despite the Bitcoin headwinds. Mining gross profit for the quarter was $32.5 million.
In early March, American Bitcoin purchased 11,298 miners from Bitmain, adding 3.05 EH/s of capacity. By the end of Q1, the company owned 89,242 miners with a combined hash rate of 28.1 EH/s.
Eric Trump, Chief Strategy Officer, framed the results as proof of the company’s core 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 said.
He added that in just over eight months as a public company, American Bitcoin has become the 16th largest Bitcoin holder globally.
The company said it plans to continue its dual accumulation strategy — mining at a structural discount while using ATM-funded purchases to build its treasury. The recent energisation of its Drumheller site is expected to improve operational efficiency going forward.
In premarket trading following the earnings release, ABTC edged up 0.81% to $1.24.
The post American Bitcoin (ABTC) Stock: Q1 Results Show Record Mining Despite $82M Loss appeared first on CoinCentral.
