American Bitcoin Reports $82M Loss Amid Record Mining Output

American Bitcoin, a prominent player in the cryptocurrency industry, has released its Q1 2026 financial results, showing a significant net loss of $82 million for the period. Despite this headline figure, the company's strategic reserve continued to grow, reaching approximately 7,300 BTC after additional purchases.

The firm's mining output reached a record high of 817 BTC, but lower prices per Bitcoin mined led to a decline in mining revenues to $62.1 million from $78.3 million. However, the company managed to maintain a gross margin above 50% and reduced its cost to mine by 23%, down to $36,200 per Bitcoin.

The company's CEO, Mike Ho, highlighted that the underlying business was profitable when excluding non-cash adjustments, and that no coins were sold during this period. The production gains were partly attributed to a hardware acquisition in early March 2026, which added significant capacity to the firm's mining fleet.