Overview
- American Bitcoin, in Wednesday's earnings filing, reported a $81.8 million first-quarter loss after a $117.2 million non-cash impairment tied to a roughly 22% drop in bitcoin's price.
- The miner produced a record 817 BTC and bought about 803 more, ending March with 7,021 BTC and saying holdings now exceed 7,300 BTC.
- Management said the core operation stayed cash-profitable as cost per coin fell to about $36,200 and gross margin held above 50%.
- New Bitmain rigs lifted the fleet to about 89,242 machines and 28.1 exahash of computing power, helped by fresh capacity energized at the Drumheller, Alberta site.
- Revenue totaled $62.1 million, down from $78.3 million in Q4 2025, and shares traded near $1.13–$1.25 as the company keeps accumulating bitcoin while many rivals sell coins and pursue AI and high‑performance computing contracts.