American Bitcoin, the crypto mining company co-founded by Donald Trump’s son Eric Trump, reported an $81.7 million net loss for the first quarter after revenue came in below analyst expectations.
The company posted $62.1 million in revenue for the quarter ended March 31, marking a 400% increase from $12.3 million a year earlier, but a decline from the $78.3 million recorded in the fourth quarter of 2025.
Revenue missed analyst forecasts by roughly 17%, while the firm — which also counts Donald Trump Jr. as a shareholder — reported a quarterly loss of 8 cents per share, significantly wider than Wall Street estimates of 1 cent per share.
American Bitcoin is among the newest entrants in the crypto mining sector, beginning Nasdaq trading in September following its merger with Gryphon Digital Mining. The company forms part of the Trump family’s broader crypto portfolio, which also includes the trading platform World Liberty Financial and its stablecoin, USD1.
Shares of ABTC fell 1.6% in after-hours trading on Wednesday to $1.23, wiping out gains made during the regular trading session.
The company’s stock has declined nearly 26.5% year-to-date amid ongoing pressure on Bitcoin miners, as Bitcoin has struggled to recover its 2026 peak of $97,000 reached in January. The cryptocurrency was recently trading near $81,000, according to CoinGecko.
American Bitcoin’s first-quarter loss improved from the $100.6 million deficit recorded a year earlier. The company also mined a record 817 Bitcoin during the quarter, up from 783 BTC in the fourth quarter of 2025.
In a statement, the firm said its mining cost fell to $36,200 per Bitcoin in the first quarter, down 23% from $46,900 in the previous quarter. The improvement was driven by higher production volumes spread across a stable fixed-cost base, along with continued discipline in energy pricing.
American Bitcoin added 11,298 mining machines to its fleet in March, increasing operational capacity by roughly 3.05 exahashes per second (EH/s). The first batch of machines became operational on March 31.
“We continue to prioritize fleet efficiency, cost discipline, and capital allocation accretive to Bitcoin per share,” said CEO Mike Ho. He added that the company plans to deploy additional capacity selectively while continuing to build its Bitcoin reserves and maintain balance sheet flexibility.
The earnings release came the same day Hut 8 reported a first-quarter 2026 net loss exceeding $253 million, primarily due to a decline in the market value of its Bitcoin holdings.
Hut 8 generated more than $71 million in quarterly revenue, down about 22% from $88.4 million in the previous quarter but still ahead of analyst expectations.
