Simply put
- American Bitcoin, a publicly traded Bitcoin mining firm, reported a net loss of roughly $82 million in the first quarter of 2026, compared to a $59.4 million loss the previous quarter.
- The company has increased its Bitcoin reserves by over 1,600 BTC, bringing its total holdings to more than 7,300 BTC, valued at around $583 million.
- Following the news, ABTC’s stock price dropped 9%, trading at $1.13, which is about 92% lower than its peak of $14.65 post-IPO.
Bitcoin miner and treasury company American Bitcoin (ABTC) saw its stock fall more than 9% after reporting a 20% decline in quarterly mining revenue, alongside a notable increase in net losses for Q1 2026, which rose by 37% from Q4 2025’s figures.
The firm, co-founded by Eric Trump, also managed to decrease its Bitcoin mining costs from approximately $46,900 to $36,200 per coin during the same quarter, while its total Bitcoin worth sits at $583 million.
“Q1 2026 was a quarter of resilient business momentum despite adverse market conditions,” said American Bitcoin’s CEO Mike Ho. He pointed out that Bitcoin’s price had dropped about 22%, creating considerable non-cash challenges within their GAAP financials, but he suggested the company would have been profitable without the non-cash adjustments.
As many Bitcoin miners pivot to catering to AI needs, ABTC has expanded its mining operations by adding over 11,000 rigs from Bitmain, now boasting almost 90,000 miners in total.
“Just over a year ago, American Bitcoin didn’t even exist,” noted Trump, the company’s chief strategy officer. He emphasized that they now hold over 7,300 Bitcoins and are among the largest publicly traded Bitcoin firms globally.
He continued, “Accumulating Bitcoin effectively and at scale is what we’ve dedicated ourselves to.” Despite the recent dip in stock prices, ABTC has experienced an almost 30% increase in trading over the past month, maintaining a price of $1.13, which is still significantly below the post-IPO high.
Last year, the company formed a partnership with the publicly listed miner Hut 8, followed by a merger with another firm, ultimately impacting its current operations.
