American Bitcoin Reports $81.8M Q1 Loss Despite Record 817 BTC Mining Production

According to its SEC filing on Wednesday, American Bitcoin (ABTC), the bitcoin mining and treasury firm co-founded by Eric Trump, reported an $81.8 million net loss in Q1 2026, compared with a $59.5 million loss in Q4 2025. Mining revenue fell to $62.1 million from $78.3 million in the previous quarter. The company's $117.2 million loss on digital assets was the primary driver, as Bitcoin declined 22% over the quarter.

During Q1, American Bitcoin mined 817 BTC, its highest quarterly production on record, and purchased 803 BTC for its treasury, bringing total holdings to 7,021 BTC as of March 31. Mining cost improved 23% to $36,200 per bitcoin from $46,900 in Q4. CEO Mike Ho noted the underlying business remained profitable excluding the non-cash mark-to-market adjustment on Bitcoin holdings.