American Bitcoin Q1 financial report: Bitcoin reserves rise to 7,021, with a net loss of $82 million

According to reports from Bloomberg and Reuters on May 7, the Trump-family-backed Bitcoin mining company American Bitcoin Corp. (ABTC) released its 2026 first-quarter earnings report. It posted a net loss of $82 million, widening from a net loss of $59 million in Q4 2025; during the quarter, it mined 817 BTC. As of March 31, its total bitcoin reserves increased to 7,021 BTC.

Q1 Key Financial Data

According to ABTC’s official financial report, ABTC’s main financial figures for Q1 2026 are as follows:

Net loss: $82 million (Q4 2025: $59 million; Q1 2025: $100.6 million)

Revenue: approximately $62.1 million, down about 20% quarter over quarter, mainly due to average mining revenue per bitcoin falling from $100,000 to $76,000

Primary drivers of the loss: a decline in the value of bitcoin holdings and market-valuation losses under FASB accounting standards; ABTC emphasized that excluding the above non-cash accounting items, actual operations were in a profitable state

Based on ABTC’s official financial report, as of March 31, bitcoin per share (sats/share) was approximately 663 sats, up about 20% from 554 sats at the end of 2025.

Bitcoin Mining Output and Reserve Growth

(Source: ABTC)

According to ABTC’s official financial report, Q1 2026 saw the highest quarterly bitcoin mined output ever, at 817 BTC, alongside strategic purchases of 803 BTC in the same period; as of March 31, total holdings reached 7,021 BTC, up about 30% from 5,401 BTC at the end of 2025.

According to ABTC’s official financial report, the number of mining rigs at quarter-end was approximately 89,242 units, with hashrate of 28.1 EH/s. In the first quarter, the Vega facility in Texas added and installed 11,298 BitMine next-generation mining rigs, all of which began operating on April 22.

Management Statement

According to a Reuters report, ABTC co-founder and Chief Strategy Officer Eric Trump said at the earnings call: “ABTC has been in operation for only one year. Now, we have over 7,300 BTC, and operate roughly 90k mining rigs, making us the world’s largest publicly listed bitcoin company.”

According to ABTC’s official statement, CEO Mike Ho said: “Looking ahead, we will continue to increase capacity when expected returns allow, and focus on steadily increasing our bitcoin reserves while maintaining flexibility in our balance sheet.”

Hut 8 Earnings Summary on the Same Day

According to Hut 8 (HUT)’s official financial report and announcements, Hut 8 released its first-quarter financial results on the same day:

Revenue: $71 million, more than tripled year over year (Q1 2025: $21.8 million)

Gross margin: 64% (Q1 2025: 14%)

Net loss: $253.1 million (including $295.7 million in bitcoin holdings and mark-to-market losses)

According to Hut 8’s announcement, the company also announced that it signed a long-term lease agreement for a 15-year artificial intelligence data center in Texas on the same day. The contract value is at least $9.8 billion (if all three five-year extension options are exercised, it could reach $25.1 billion); the news drove Hut 8’s stock price to a five-year high, and the customer name was not disclosed.

FAQ

What are the key financial metrics in American Bitcoin’s Q1 2026 earnings report?

According to ABTC’s official financial report, in Q1 2026 the net loss was $82 million, revenue was approximately $62.1 million, down about 20% from the previous quarter; the main reason was that average mining revenue per bitcoin fell from $100,000 to $76,000, and the loss was mainly driven by non-cash accounting items.

How did ABTC’s bitcoin mining output and reserves perform in Q1 2026?

According to ABTC’s official financial report, in Q1 it mined 817 BTC, the highest quarterly record to date; it also strategically purchased 803 BTC. As of March 31, total holdings were 7,021 BTC, up about 30% from the end of 2025.

What is the size of the AI data center lease announced by Hut 8 on the same day?

According to Hut 8’s official announcement, the company signed a long-term lease agreement for a 15-year artificial intelligence data center in Texas. The contract base value is at least $9.8 billion, and if all renewal options are exercised it could reach $25.1 billion. The customer name was not disclosed.