American Bitcoin Corp. reported a fourth-quarter 2025 net loss of $59.5 million even as revenue climbed to $78.3 million, a 22% increase from the third quarter, according to the company’s earnings release and SEC 8‑K filing.
The Trump family‑backed miner said Q4 gross margin was 53% and that it effectively acquired mined Bitcoin at roughly a 53% discount to spot prices. A large non‑cash writedown on digital assets drove a full‑year 2025 net loss of $153.2 million, largely reflecting fair‑value markdowns on its Bitcoin holdings.
Co‑founder and chief strategy officer Eric Trump said the company finished 2025 with 5,401 BTC on its balance sheet and that the total has since “grown to more than 6,000 Bitcoin.” He also pointed to American Bitcoin’s September Nasdaq listing as a key milestone.
To fund its accumulation strategy, ABTC generated $150.5 million of gross proceeds from an at‑the‑market stock program in Q4. The company reported it mined 1,654 BTC from the start of Q2 through year‑end, including 783 BTC in Q4; mining accounted for roughly one‑third of the 5,401 BTC held at year‑end.
Despite those operational metrics, ABTC shares have tumbled about 85% over the past six months, according to Yahoo Finance.
The weakness mirrors broader pressure on Trump‑linked crypto projects and some miners. The World Liberty Financial (WLFI) token finished 2025 well below earlier highs, and the Official Trump (TRUMP) memecoin plunged roughly 87% from its January 2025 peak of about $44 to near $3.50 at the time of reporting.
Several major public miners are altering strategies amid the drawdown. Marathon (MARA) has been expanding into AI‑focused data‑center infrastructure and high‑performance computing, Bitdeer (BTDR) liquidated its remaining Bitcoin reserves to prioritize liquidity and reinvestment, and Hut 8 (HUT) reported a Q4 net loss of $279.7 million while reallocating resources toward AI initiatives.
This article is presented in the interest of independent, transparent journalism. Readers are encouraged to consult company filings and other primary sources to verify the information.