The US Bitcoin company posted a net loss of $81.8 million in the first quarter of 2026, even though the Trump-backed mining company set a new quarterly production record of 817 BTC and reduced the cost of mining by 23%.
summary
- The US Bitcoin company reported a net loss of $81.8 million in the first quarter, up from a loss of $59.5 million in the fourth quarter of 2025.
- Bitcoin fell 22% during the quarter, resulting in a $117.2 million non-cash impairment charge against the company’s holdings.
- The company mined a record 817 bitcoins and reduced the cost of one coin to $36,200, a 23% improvement from $46,900 in the fourth quarter of 2025.
American Bitcoin I mentioned A net loss of $81.8 million in the first quarter of 2026, driven by a 22% decline in the price of Bitcoin that resulted in a non-cash decline of $117.2 million in its digital asset holdings. Mining revenues fell to $62.1 million from $78.3 million in the previous quarter.
Despite the key loss, CEO Mike Hu backed down. “Remove the non-cash market adjustment to our bitcoin required by the Financial Accounting Standards Board, the underlying business was profitable and we did not sell a single coin,” he said.
Gross mining margins maintained over 50% and the cost per coin fell to $36,200, a 23% improvement from $46,900 in Q4 2025.
Standard production, expanding paper losses
The US Bitcoin company mined 817 BTC in the first quarter, its highest quarterly production to date, and purchased an additional 803 BTC for its treasury. Total holdings reached 7,021 BTC as of March 31. Co-founder Eric Trump He said Miami consensus on Wednesday:
“In just over eight months as a public company, we have become the 16th largest holder of Bitcoin globally and have expanded to over 28 exahashes of capacity.”
The company completed the deployment of 11,298 new Bitmain mining rigs in early March, bringing its total fleet to 89,242 rigs and a capacity of 28.1 EH/s. Total operating expenses for the quarter amounted to $150.7 million.
ABTC shares fell nearly 7% in premarket trading after results came in 17% below analyst estimates. like crypto.news reportedABTC debuted on the Nasdaq via a reverse merger in September 2025, briefly pushing Eric Trump’s paper stake into billionaire territory before a sustained sell-off.
