American Bitcoin reported an $81.7 million first-quarter loss as revenue came in below analyst expectations.
Summary
- American Bitcoin reported an $81.7 million Q1 loss as revenue missed analyst forecasts by 17%.
- The miner produced a record 817 Bitcoin while cutting mining costs to $36,200 per BTC.
- Shares slipped as results showed pressure from lower Bitcoin prices and tighter mining margins industrywide.
The Bitcoin mining company is linked to U.S. President Donald Trump’s sons, Eric Trump and Donald Trump Jr.
The company posted $62.1 million in revenue for the quarter ended March 31. That was up sharply from $12.3 million a year earlier but down from $78.3 million in the fourth quarter of 2025. Reuters reported the loss was narrower than the $100.6 million loss recorded a year earlier.
Mining output reaches record level
American Bitcoin mined 817 BTC in the first quarter, its highest quarterly output so far. The company also bought 803 BTC through treasury purchases during the period. Its Bitcoin holdings rose to more than 7,000 BTC by March 31, compared with 5,401 BTC at the end of 2025.
The company said its cost to mine one Bitcoin fell to about $36,200 in Q1. That was down from about $46,900 in the fourth quarter. American Bitcoin linked the drop to higher production across a fixed-cost base and tighter energy pricing controls.
ASIC rollout expands hash power
Crypto.news recently reported that American Bitcoin energized 11,298 new ASIC miners, lifting its owned hash rate to about 28.1 EH/s. The deployment added about 3.05 EH/s of capacity and increased the total fleet to roughly 89,242 miners.
The company installed the new machines at Hut 8’s Drumheller site in Alberta. About 58,999 miners were online after the rollout, producing about 25.0 EH/s with average efficiency near 14.1 joules per terahash.
American Bitcoin CEO Mike Ho said, “Looking ahead, we will keep deploying incremental capacity when expected returns justify it and focus on compounding our Bitcoin reserve while preserving balance sheet flexibility.”
Miner earnings remain under pressure
The results came during a tough period for listed Bitcoin miners. Bitcoin’s lower average price weighed on mining revenue, even as American Bitcoin produced more BTC and improved its cost structure.
Crypto.news also reported that Hut 8 posted a $253.1 million Q1 net loss, driven mainly by $295.7 million in unrealized losses on digital assets. Hut 8 reported $71 million in revenue, below Wall Street’s $79.4 million consensus.
