American Bitcoin, the crypto mining company co-founded by US President Donald Trump’s son Eric Trump, reported an $81.7 million first-quarter loss as its revenue missed analyst estimates.
American Bitcoin on Wednesday reported revenue of $62.1 million for the quarter ended March 31, a 400% increase from $12.3 million in the prior-year period but down from $78.3 million in the fourth quarter of 2025.
The revenue figures fell short of analyst estimates by 17%, while the firm, which also counts Donald Trump Jr. as a shareholder, reported a quarterly loss of 8 cents per share, compared with Wall Street estimates of 1 cent per share.
American Bitcoin is one of the newest crypto mining companies in the industry, which started trading on the Nasdaq in September after merging with Gryphon Digital Mining. It is one part of the Trump family’s sprawling interests in crypto businesses, which also includes the trading platform World Liberty Financial and its stablecoin, USD1.
Shares of American Bitcoin (ABTC) ended after-hours trading down 1.6% on Wednesday at $1.23, erasing the 1.6% gain they made during the regular session.
American Bitcoin’s share price was choppy on Wednesday following the company’s first-quarter results. Source: Google Finance
The company’s stock has fallen nearly 26.5% so far this year amid a challenging environment for Bitcoin miners, as the cryptocurrency fell from a 2026 high of $97,000 in January, which it has struggled to regain. Bitcoin was recently trading at $81,000, according to CoinGecko.
American Bitcoin’s first-quarter loss narrowed from its $100.6 million loss a year ago. It reported that it mined a record 817 Bitcoin in the first quarter, compared to 783 Bitcoin in the fourth quarter of 2025.
Related: Trump-linked American Bitcoin energizes 11,298 new ASICs
The company said in a statement that its cost of mining was $36,200 per Bitcoin in the first quarter, a 23% improvement from $46,900 per Bitcoin in the fourth quarter of 2025, due to “higher production volume spread across a stable fixed-cost base and continued energy pricing discipline.”
American Bitcoin said in March that it added 11,298 mining machines to its fleet, bringing about 3.05 exahashes per second (EH/s) to its operations. The first of the machines was energized on March 31.
“We continue to prioritize fleet efficiency, cost discipline, and capital allocation accretive to Bitcoin per share,” American Bitcoin CEO Mike Ho said. “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.”
The results came on the same day that Hut 8 reported the first quarter 2026 net loss of more than $253 million, due mainly to a reduction in the market value of its Bitcoin holdings.
Revenue for the quarter totaled more than $71 million, down by about 22% from the previous period’s $88.4 million, up from analyst forecasts.
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions