Quarterly ResultMay 6, 2026, 04:26 PM
American Bitcoin Q1 Holdings +30% to 7,021 BTC; 52% Mining Margin
AI Summary
American Bitcoin Corp. reported its financial results for the first quarter of 2026, highlighting significant growth in its strategic Bitcoin reserve, which increased by approximately 30% to over 7,000 Bitcoin. The company achieved its highest quarterly production, mining 817 Bitcoin, and maintained a strong 52% mining gross margin despite a 22% decline in Bitcoin's price. While GAAP financials showed a net loss due to non-cash mark-to-market adjustments, the underlying business was profitable, driven by improved mining efficiency and a reduced cost to mine.
Key Highlights
- American Bitcoin grew Bitcoin holdings by ~30% to ~7,021 by March 31, 2026.
- Mined ~817 Bitcoin in Q1 2026, highest quarterly production on record.
- Mining revenue for Q1 2026 was ~$62.1 million, down from ~$78.3 million in Q4 2025.
- Maintained ~52% mining gross margin despite a ~22% decline in Bitcoin price.
- Cost to mine improved by ~23% to ~$36,200 per Bitcoin in Q1 2026.
- Total owned fleet increased to ~89,242 miners with ~28.1 EH/s capacity.
- Reported a GAAP net loss of $(81.79) million for Q1 2026.
- Adjusted EBITDA was $(91.28) million for Q1 2026.
Price Impact
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