American Bitcoin Posts $82M First Quarter Deficit, Falls Short of Revenue Projections
The cryptocurrency mining firm associated with the sons of Donald Trump, American Bitcoin, failed to meet revenue projections while reporting reduced losses amid expansion of mining operations.
The cryptocurrency mining enterprise American Bitcoin, which was co-established by Eric Trump, son of United States President Donald Trump, disclosed an $81.7 million deficit for the first quarter alongside revenue figures that failed to reach analyst projections.
On Wednesday, American Bitcoin disclosed quarterly revenue totaling $62.1 million for the period concluding on March 31, representing a 400% surge compared to the $12.3 million recorded during the same quarter last year, though marking a decline from the $78.3 million generated in the 2025 fourth quarter.
These revenue numbers came in below analyst projections by 17%, meanwhile the company, which also includes Donald Trump Jr. among its shareholders, disclosed a per-share quarterly deficit of 8 cents, against Wall Street projections of a 1 cent per share loss.
Among the industry's most recent entrants, American Bitcoin joined crypto mining companies after beginning Nasdaq trading in September through a merger transaction with Gryphon Digital Mining. The enterprise represents just one component of the Trump family's extensive cryptocurrency business portfolio, which encompasses the World Liberty Financial trading platform along with its USD1 stablecoin.
American Bitcoin's shares (ABTC) concluded after-hours trading on Wednesday with a 1.6% decline at $1.23, wiping out the 1.6% increase recorded during standard trading hours.
Year-to-date, the company's stock has experienced a decline approaching 26.5% amid a difficult operating landscape for Bitcoin mining operations, as the digital currency retreated from its 2026 peak of $97,000 reached in January, a level it has yet to recapture. Based on CoinGecko data, Bitcoin was most recently changing hands at $81,000.
Compared to the $100.6 million deficit posted twelve months earlier, American Bitcoin's first-quarter loss showed improvement. The company disclosed mining a record quantity of 817 Bitcoin during the first quarter, up from 783 Bitcoin mined in the 2025 fourth quarter.
In its official statement, the company indicated that its per-Bitcoin mining cost stood at $36,200 during the first quarter, representing a 23% enhancement compared to the $46,900 per Bitcoin cost recorded in the 2025 fourth quarter, attributable to "higher production volume spread across a stable fixed-cost base and continued energy pricing discipline."
In March, American Bitcoin announced the addition of 11,298 mining machines to its operational fleet, contributing approximately 3.05 exahashes per second (EH/s) to its mining capabilities. These machines began operations starting March 31.
We continue to prioritize fleet efficiency, cost discipline, and capital allocation accretive to Bitcoin per share. Looking ahead, we will keep deploying incremental capacity when expected returns justify it and focus on compounding our Bitcoin reserve while preserving balance sheet flexibility.
Mike Ho, American Bitcoin CEO
These financial results were announced on the identical day that Hut 8 disclosed its first quarter 2026 net deficit exceeding $253 million, attributed primarily to depreciation in the market valuation of its Bitcoin portfolio.
Hut 8's quarterly revenue exceeded $71 million, representing approximately a 22% decrease from the preceding quarter's $88.4 million, though surpassing analyst predictions.