According to its Q1 2026 SEC filing released Wednesday, American Bitcoin reported an $81.8 million net loss, compared with $59.5 million in the prior quarter. Mining revenue declined to $62.1 million from $78.3 million in Q4 2025, while operating expenses reached $150.7 million. The primary driver was $117.2 million in digital asset losses, as Bitcoin fell 22% during the quarter.
Despite the loss, the company achieved record mining output of 817 BTC in Q1 and purchased 803 BTC for its treasury, bringing total holdings to 7,021 BTC as of March 31. CEO Mike Ho noted that excluding non-cash mark-to-market adjustments, the underlying business was profitable without selling any coins.
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