American Bitcoin (ABTC), the bitcoin mining and treasury agency co-founded by Eric Trump, reported an $81.8 million web loss within the first quarter of 2026, up from a $59.5 million web loss within the prior quarter.
The corporate posted $62.1 million in mining income throughout Q1, down from $78.3 million in This autumn 2025, in line with its SEC submitting.
What drove the loss
Working bills totaled $150.7 million for the quarter, with the largest hit coming from a $117.2 million loss on digital belongings.
Bitcoin fell 22% over the interval, slicing a major chunk from the corporate’s holdings.
CEO Mike Ho addressed the headline determine instantly:
“Strip out the non-cash mark-to-market adjustment on our Bitcoin required by FASB, and the underlying enterprise was worthwhile — and we didn’t promote a single coin.”
File manufacturing regardless of headwinds
American Bitcoin mined 817 BTC in Q1, its highest quarterly output on document, and bought a further 803 BTC for its treasury.
The mixed 1,620 BTC enhance introduced complete holdings to 7,021 BTC as of March 31, boosting its satoshi-per-share metric by 20%.
Gross margin on its mining platform held above 50% regardless of the worth decline.
The associated fee to mine every bitcoin fell to $36,200 in Q1, a 23% enchancment from $46,900 in This autumn 2025, pushed by greater manufacturing quantity and tighter vitality price administration.
Scale and capability
In early March, American Bitcoin bought 11,298 miners from Bitmain, including 3.05 EH/s of capability.
By the tip of Q1, the agency owned 89,242 miners with a mixed hashrate of 28.1 EH/s.
Eric Trump framed the quarter as proof of the corporate’s core technique:
“In simply over eight months as a public firm, we have now grow to be the sixteenth largest bitcoin holder globally and scaled to greater than 28 exahash of capability. The compounding is accelerating.”
ABTC shares rose 1.63% on Wednesday to shut at $1.25, up 40.5% over the previous month however down 72.5% over the previous six months.