American Bitcoin (ABTC) Stock: Mining Output Hits All-Time High Despite $81.8M Q1 Loss

Key Takeaways

• Q1 2026 saw American Bitcoin report an $81.8 million net loss, compared to $59.5 million lost in the previous quarter.
• Quarterly revenue declined 20.7% to $62.1 million amid a 22% Bitcoin price retreat.
• Bitcoin production reached an all-time quarterly high of 817 BTC.
• Per-coin mining costs decreased 23% to $36,200, maintaining gross margins above 50%.
• Shares finished Wednesday’s session at $1.25, gaining 1.63%, with a one-month surge of 40.5%.

American Bitcoin (ABTC) disclosed an $81.8 million net loss during Q1 2026, with plummeting Bitcoin valuations significantly impacting the mining company’s bottom line.

Shares ended Wednesday’s trading at $1.25, reflecting a 1.63% daily increase. While ABTC has surged 40.5% over the trailing month, the stock remains underwater by 72.5% across a six-month timeframe.

American Bitcoin Corp, ABTC

Quarterly revenue registered at $62.1 million, representing a 20.7% contraction from the $78.3 million recorded in Q4 2025. The company absorbed a $117.2 million digital asset impairment charge, reflecting Bitcoin’s 22% quarterly slide from approximately $87,500 down to $68,200.

Operational expenditures for the period reached $150.7 million.

Despite the substantial reported loss, CEO Mike Ho challenged the surface-level interpretation. He emphasized that when excluding the non-cash mark-to-market adjustments mandated by FASB accounting standards, the core operations remained cash-flow positive. Notably, the company maintained a zero-sale policy on Bitcoin throughout the quarter.

Mining Performance Reaches New Heights

Operationally, Q1 delivered impressive results for the Bitcoin miner. American Bitcoin extracted 817 BTC — establishing a new company record for quarterly production. Additionally, the firm acquired 803 BTC through direct purchases for treasury holdings.

The combined accumulation of 1,620 BTC elevated total reserves to 7,021 BTC by quarter-end on March 31. This pushed the company’s Satoshi-per-share metric upward by 20%.

Production costs per Bitcoin dropped to $36,200 in Q1, representing a 23% reduction from the $46,900 recorded in Q4 2025. Management attributed the improvement to increased mining volume distributed across relatively fixed overhead costs, coupled with more favorable energy contracts.

Gross mining margins remained healthy at 52% — comfortably above the 50% threshold — even as Bitcoin prices faced downward pressure. The quarter generated $32.5 million in mining gross profit.

Operational Scale-Up Continues

During early March, American Bitcoin acquired 11,298 mining rigs from Bitmain, boosting capacity by 3.05 EH/s. The company’s fleet totaled 89,242 miners by quarter’s end, commanding a combined hash rate of 28.1 EH/s.

Eric Trump, serving as Chief Strategy Officer, characterized the quarterly performance as validation of the business model. “We extracted 817 Bitcoin at a 47% discount relative to market prices, expanded our strategic reserves by over 1,600 Bitcoin, and maintained robust margins throughout,” he stated.

He noted that within just eight months of operating as a publicly-traded entity, American Bitcoin has ascended to become the world’s 16th largest Bitcoin holder.

Management indicated plans to sustain its two-pronged accumulation approach — extracting Bitcoin through cost-efficient mining operations while simultaneously leveraging ATM facilities for opportunistic treasury purchases. The recent activation of the Drumheller facility is anticipated to drive further operational improvements in coming quarters.

In premarket activity following the earnings announcement, ABTC ticked up 0.81% to $1.24.