Quarterly ResultMay 6, 2026, 04:23 PM
American Bitcoin Q1 Revenue $62.1M; Net Loss $(81.8)M; EPS $(0.08)
AI Summary
American Bitcoin Corp. reported its first-quarter 2026 financial results, showing a significant increase in revenue and a reduced net loss compared to the prior year. The company's cash position improved, and total assets grew. These results follow a series of corporate transactions in 2025, including a spin-off from Hut 8 Corp. and a reverse merger with Gryphon Digital Mining, Inc.
Key Highlights
- Q1 2026 revenue increased to $62.1 million from $12.3 million in Q1 2025.
- Net loss for Q1 2026 narrowed to $(81.8) million from $(100.6) million in Q1 2025.
- Basic and diluted net loss per share was $(0.08) in Q1 2026, an improvement from $(0.11) in Q1 2025.
- Cash balance rose to $10.1 million as of March 31, 2026, from $3.8 million at December 31, 2025.
- Total assets increased to $1.30 billion as of March 31, 2026, from $1.25 billion at December 31, 2025.
- Digital assets held in custody grew to $268.2 million from $229.6 million.
- Net cash used in operating activities was $(42.5) million, an improvement from $(44.7) million.
- Raised $110.5 million from an at-the-market common stock offering in Q1 2026.