American Bitcoin Corp., the Trump family-linked mining firm, reported a fourth-quarter internet lack of $59 million as bitcoin costs fell, reducing the worth of its digital asset holdings.
The Miami-based agency, which trades on the Nasdaq below the ticker ABTC, stated income for the three months ended Dec. 31 totaled $78.3 million, up from $64.2 million a 12 months earlier however barely beneath analyst estimates of $79.6 million. For the total 12 months, the corporate generated $185.2 million in income.
Bitcoin declined about 23% within the fourth quarter, pressuring corporations that maintain massive reserves of the cryptocurrency on their stability sheets. Beneath up to date guidelines from the Monetary Accounting Requirements Board, companies should mark digital asset holdings to market every reporting interval. Because of this, American Bitcoin recorded a $227 million non-cash loss tied to the revaluation of its bitcoin treasury.
The corporate ended the 12 months with 5,401 bitcoin and has since elevated that determine to greater than 6,000 BTC, based on an announcement from co-founder Eric Trump. American Bitcoin stated roughly one-third of its holdings had been acquired by mining operations, with the remaining two-thirds collected by open-market purchases and strategic transactions.
American Bitcoin is backed by the household of President Donald Trump and is 20% owned by Eric Trump and Donald Trump Jr.
The agency went public in September, weeks earlier than bitcoin reached a document excessive above $126,000. Shares have since fallen practically 90% from a peak close to $9 final 12 months. The inventory was up 2% in early buying and selling Thursday at $1.06 however stays down about 22% over the previous 12 months.
The corporate raised $150.5 million in the course of the quarter by an at-the-market inventory providing, capital it used to extend its bitcoin holdings. Administration stated the fairness issuance boosted per-share bitcoin publicity by practically 50%.
American Bitcoin posts 53% mining margin
American Bitcoin operates industrial-scale mining amenities and depends on infrastructure help from majority proprietor Hut 8. Through the fourth quarter, the corporate stated it mined bitcoin at a 53% gross margin, indicating manufacturing prices remained beneath prevailing spot costs regardless of the market downturn.
Chief Govt Mike Ho stated 2025 marked the agency’s first 12 months as a standalone public firm and cited enlargement of its mining platform and bitcoin reserves as key milestones. President Matthew Prusak described the corporate’s technique as securing bitcoin by mining and accumulating extra reserves by treasury purchases.
The fourth-quarter lack of $59.45 million compares with a revenue of $3.48 million in the identical interval a 12 months earlier. The corporate additionally reported a revenue within the earlier quarter.
Trade friends have taken various approaches to the downturn. Some massive miners, together with MARA Holdings and Riot Platforms, have explored changing parts of their operations to synthetic intelligence infrastructure.
Others have bought elements of their bitcoin reserves to strengthen liquidity.
Hut 8, which holds a majority stake in American Bitcoin, reported its personal fourth-quarter outcomes Wednesday. The corporate stated it ended the 12 months with an 8,500-megawatt improvement pipeline and secured a brand new $200 million revolving credit score facility with Two Prime.
It additionally expanded an current credit score facility with Coinbase to $200 million, bringing complete accessible credit score capability to $400 million.
