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Bitcoin News
American Bitcoin, the crypto mining company co-founded by Eric Trump and backed by Donald Trump Jr., reported a net loss of $81.7 million for the first quarter of 2026 on Wednesday, with revenue coming in below analyst expectations.
The company generated $62.1 million in revenue for the quarter ending March 31, a roughly 400% increase from $12.3 million in the same period a year earlier but a decline from $78.3 million in the fourth quarter of 2025. The figure fell 17% short of analyst estimates, while the per-share loss of 8 cents compared unfavorably to Wall Street's 1-cent estimate.
American Bitcoin mined a record 817 BTC during the quarter, up from 783 BTC in Q4 2025. The company reported a per-Bitcoin mining cost of $36,200 in Q1, a 23% improvement from $46,900 in the prior quarter, attributing the gain to higher production volume spread across a stable fixed-cost base and continued energy pricing discipline.
CEO Mike Ho said the company would continue prioritizing fleet efficiency, cost discipline, and capital allocation. He added that the firm plans to continue deploying incremental capacity when expected returns justify it and to focus on building its Bitcoin reserve while maintaining balance sheet flexibility.
American Bitcoin, which began trading on the Nasdaq in September 2025 after merging with Gryphon Digital Mining, added 11,298 mining machines to its fleet in March, adding approximately 3.05 exahashes per second to its operations. The first of those machines was energized on March 31.
The first-quarter loss of $81.7 million was narrower than the $100.6 million loss reported in Q1 2025. Shares of American Bitcoin (ABTC) closed after-hours trading on Wednesday down 1.6% at $1.23, reversing an equivalent gain made during the regular session. The stock has declined roughly 26.5% year-to-date.
American Bitcoin is one part of the Trump family's broader crypto holdings, which also include the trading platform World Liberty Financial and its stablecoin USD1. Separately, fellow Bitcoin miner Hut 8 reported a first-quarter net loss exceeding $253 million on the same day, driven largely by a decline in the market value of its BTC holdings.
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