EricTrump's co-founded AmericanBitcoin reports Q1 net loss of $81.8 million

Odaily News Bitcoin mining company American Bitcoin, co-founded by Eric Trump, released its Q1 2026 financial report. Data shows the company recorded a net loss of $81.8 million for the quarter, higher than the $59.5 million loss in the previous quarter; mining revenue totaled $62.1 million, down from $78.3 million in the prior quarter.

The financial report indicates that fluctuations in digital asset values were the primary source of losses, totaling $117.2 million, significantly impacted by Bitcoin's 22% decline in the first quarter. Despite this, the company mined 817 BTC in Q1 and added 803 BTC to its reserves through purchases, bringing total holdings to 7,021 BTC. American Bitcoin stated that its cost per Bitcoin mined has dropped to $36,200, a 23% decrease from the previous quarter. (The Block)