American Bitcoin Reports First-Quarter Loss
American Bitcoin, a cryptocurrency mining firm associated with Eric Trump and Donald Trump Jr., recently revealed a first-quarter loss of $81.7 million, which fell short of analysts’ forecasts. For the quarter ending March 31, the company generated $62.1 million in revenue—an impressive leap from the $12.3 million recorded in the same period last year, though it marks a decline from the $78.3 million earned in the fourth quarter of 2025. According to reports from Reuters, this loss, while significant, was less severe than the $100.6 million deficit the company faced a year prior.
Production Metrics and Bitcoin Holdings
In terms of production metrics, American Bitcoin achieved its highest mining output yet, extracting 817 BTC during the first quarter. Additionally, this period saw the company acquire 803 BTC through treasury purchases, bolstering its total Bitcoin holdings to over 7,000 BTC as of March 31, up from 5,401 BTC at the conclusion of 2025.
Cost Efficiency and Mining Capacity
The cost to mine each Bitcoin also saw a favorable decrease, dropping to approximately $36,200, down from around $46,900 in the previous quarter. American Bitcoin attributed this reduction to improved production efficiency against its fixed-cost structure and more favorable energy pricing.
Operational Developments
In a noteworthy operational development, American Bitcoin activated 11,298 new ASIC miners, raising its total hash rate to about 28.1 EH/s following the addition of roughly 3.05 EH/s of capacity. The new mining rigs were installed at Hut 8’s facility in Drumheller, Alberta, contributing to a total of about 58,999 operational miners, collectively generating approximately 25 EH/s with an average efficiency of near 14.1 joules per terahash.
CEO’s Strategic Direction
CEO Mike Ho remarked on the company’s strategic direction, stating, “We will continue to expand our capacity when potential returns support such investments and will focus on building our Bitcoin reserves while maintaining flexibility in our balance sheet.”
Sector Challenges
These developments come amid challenging circumstances for publicly-traded Bitcoin miners, as a decline in Bitcoin’s average price has negatively impacted revenue figures across the sector. In a related note, Hut 8 reported a substantial first-quarter loss of $253.1 million, primarily due to $295.7 million in unrealized losses on its digital assets, alongside revenue of $71 million that fell short of Wall Street’s expectations of $79.4 million.
