American Bitcoin recorded a net loss during the first quarter of 2026 despite mining a record 817 bitcoins, according to financial disclosures filed with the Securities and Exchange Commission and reported by Gate.com. The publicly traded mining firm, co-founded by Eric Trump, attributed the multi-million dollar deficit to non-monetary fair value adjustments rather than core operational failures.
Q1 Financial Results and Market Adjustments
During the first quarter of 2026, American Bitcoin widened its net loss from the deficit reported in the final quarter of 2025, according to SEC filings cited by Gate.com. Mining revenues reached $62.1 million for the quarter, down from the previous period. The primary driver of the net loss was a digital asset fair value loss, which stemmed directly from a correction in the price of bitcoin during the quarter.
According to statements released by CEO Mike Ho and covered by Gate.com, the fair value loss represents an accounting adjustment mandated by Financial Accounting Standards Board rules rather than an actual cash loss from selling bitcoin holdings. Excluding this non-monetary adjustment, the company’s operating expenses dropped against $62.1 million in revenues, indicating that core mining operations remained profitable.
Production Volume and Operational Efficiency
American Bitcoin mined 817 bitcoins in the first quarter of 2026, according to Gate.com. The average cost of production per bitcoin dropped during the first quarter, representing a decrease from the cost recorded in the fourth quarter of 2025.
Company leadership has pointed to cheap Texas electricity as a key driver of operational efficiency. To maximize output, the company expanded its fleet. In early March 2026, American Bitcoin acquired new mining rigs from Bitmain, adding 3.05 exahashes per second of computing power to its infrastructure.
Corporate Treasury and Hodling Strategy
Rather than liquidating newly minted coins to cover expenses, American Bitcoin expanded its corporate treasury. The firm acquired an additional 803 bitcoins during the first quarter, pushing its total reserves past 5,400 BTC, according to Gate.com. This strategy mirrors the approach taken by other large-scale mining firms like Marathon Digital and Riot Platforms.
As of May 2026, bitcoin traded around $80,810, supporting a gross mining margin above 50% for efficient operators but keeping revenue stability tied closely to cryptocurrency market cycles.
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