Trump-Backed American Bitcoin Shares Fall After $82 Million Q1 Loss

Shares successful publically traded Bitcoin miner and treasury steadfast American Bitcoin (ABTC) are down much than 9% Thursday pursuing a 20% dip successful quarterly mining gross and reported nett losses of astir $82 cardinal during Q1 2026—a 37% leap from Q4 2025 losses.

The firm, which was co-founded by Eric Trump, boosted its Bitcoin holdings by much than 1,600 BTC during the 4th and reduced the costs associated with mining BTC to astir $36,200 per coin, down from $46,900 during Q4. The institution holds astir $583 cardinal worthy of Bitcoin.

“Q1 2026 was a 4th of continued momentum successful a resilient concern nether adverse marketplace conditions,” said American Bitcoin CEO Mike Ho, successful a statement. 

“Bitcoin declined astir 22% quarter-over-quarter, which drove important non-cash headwinds done our GAAP financials,” helium said, adding that without the “non-cash mark-to-market adjustment” required, the steadfast was profitable without selling immoderate BTC. 

At a clip erstwhile galore Bitcoin miners are focusing connected providing compute powerfulness for AI demand—including American Bitcoin’s genitor company, Hut 8—ABTC expanded its mining cognition during the 4th with the summation of much than 11,000 mining rigs from Bitmain, bringing its full fleet to astir 90,000 miners. 

“Just implicit a twelvemonth ago, American Bitcoin did not exist,” Trump, American Bitcoin’s main strategy officer, said successful a statement. “Today we clasp implicit 7,300 Bitcoin and basal among the largest publically traded Bitcoin companies successful the world, supported by a fleet of astir 90,000 miners.”

“This is precisely what we are built to do: accumulate Bitcoin efficiently and astatine scale,” the lad of U.S. President Donald Trump added. 

While shares successful the steadfast person fallen connected Thursday, ABTC is trading astir 30% higher successful the past period of trading, precocious changing hands astatine $1.13. At that mark, shares are trading astir 92% beneath its post-IPO precocious of $14.65. 

The steadfast came to fruition past twelvemonth erstwhile it combined with publically traded Bitcoin miner Hut 8. It aboriginal merged with publically traded Bitcoin miner Gryphon Digital successful a stock-for-stock merger.