Trump family-linked stock falls on $82 million loss
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American Bitcoin (Nasdaq: ABTC), the Trump family's Bitcoin (BTC) mining company, reported the financial results for the first quarter of the year on May 6.
The company generated a net loss of $81.79 million with a revenue of $62.12 million during Q1 2026, missing analyst estimates.
Earnings-per-share (EPS) stood at a loss of $0.08, against the estimated gain of $0.01.
Related: What is Bitcoin mining? Explained
The company's quarterly loss was primarily driven by mark-to-market accounting on its Bitcoin holdings as its price crashed 22% over the period.
Mining production grew to around 817 Bitcoin this quarter, up from around 783 Bitcoin in the last quarter.
Cost to mine one Bitcoin was nearly $36,200 this quarter, down from $46,900 a Bitcoin in the last quarter.
The company attributed the economic model to "higher production volume spread across a stable fixed cost base and continued energy pricing discipline."
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Highest quarterly Bitcoin production on record
It also increased its fleet from 78,000 Bitcoin miners and 25.0 EH/s capacity in Q4 2025 to 89,242 Bitcoin miners with 28.1 EH/s in Q1 2026.
Its digital asset holdings grew from 5,401 Bitcoin on Dec. 31, 2025 to 7,021 Bitcoin on March 31, 2026.
It recorded the highest quarterly production on record in Q1 2026, mining 817 Bitcoin. It also acquired 803 Bitcoin through strategic treasury purchases during the quarter.
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“Just over a year ago, American Bitcoin did not exist," American Bitcoin co-founder and chief strategy officer Eric Trump said. "Today we hold over 7,300 Bitcoin and stand among the largest publicly traded Bitcoin companies in the world."
However, the company's failure to meet analyst estimates and disappointed investors.
Following the news, the ABTC stock fell more than 6.5% to trade at $1.16 at the time of writing.
