American Bitcoin Reports $82 Million Q1 Loss Despite Record Bitcoin Mining Output

American Bitcoin Posts Heavy Quarterly Loss Amid BTC Decline

American Bitcoin, the bitcoin mining and treasury firm co-founded by Eric Trump, reported an $81.8 million net loss during the first quarter of 2026 as falling Bitcoin prices weighed heavily on its balance sheet.

According to the company’s latest filing, mining revenue declined to $62.1 million from $78.3 million in the previous quarter. Operating expenses reached $150.7 million, with digital asset losses accounting for $117.2 million after Bitcoin dropped 22% during the quarter.

Record Bitcoin Production Strengthens Treasury Holdings

Despite the loss, the company achieved its highest quarterly mining production on record, mining 817 BTC during Q1. American Bitcoin also purchased an additional 803 BTC for its treasury, bringing total holdings to 7,021 BTC by the end of March.

CEO Mike Ho stated that the underlying mining business remained profitable excluding non-cash accounting adjustments tied to Bitcoin valuation.

Mining Efficiency and Expansion Continue Improving

The company reduced its average mining cost to $36,200 per Bitcoin, improving 23% from the previous quarter. American Bitcoin also expanded operations by acquiring 11,298 new miners from Bitmain, increasing total mining capacity to 28.1 EH/s across more than 89,000 mining machines.