Key Takeaways
- ABTC’s fourth-quarter financials showed a net loss of $59.45 million, a stark contrast to the $3.48 million gain reported in the corresponding quarter of the previous year.
- A 23% decline in bitcoin’s value during the quarter resulted in a $227 million non-cash impairment charge under revised FASB accounting standards.
- Quarterly revenue reached $78.3 million, marking a 22% increase from Q3, though falling marginally short of Wall Street’s $79.6 million projection.
- Through an at-the-market equity offering, the firm secured $150.5 million in Q4, increasing bitcoin holdings per share by approximately 50%.
- Total bitcoin reserves now exceed 6,000 BTC, climbing from 5,401 at the close of 2025, with mining operations contributing one-third of holdings.
American Bitcoin disclosed a quarterly net loss of $59.45 million for the final three months of the fiscal period, marking a dramatic turnaround from the $3.48 million in earnings recorded during the identical timeframe twelve months earlier.
The firm had achieved profitability in the third quarter, making this fourth-quarter reversal particularly notable for investors and analysts.
Bitcoin’s market performance was the primary culprit. The digital asset declined approximately 23% throughout the quarter that concluded on December 31, 2025.
Revised FASB accounting standards mandate that corporations value cryptocurrency assets at current market rates. This regulatory framework compelled American Bitcoin to record a $227 million non-cash impairment directly attributable to bitcoin’s price deterioration.
Quarterly revenues totaled $78.3 million, representing growth from the $64.2 million reported in the year-ago quarter. Wall Street forecasts had anticipated $79.6 million, placing actual results slightly below expectations.
Across the entire fiscal year, the organization produced $185.2 million in total revenue.
Profitability in Mining Operations Persists
Despite bitcoin’s downward trajectory, the firm’s mining division maintained profitability. Bitcoin production achieved a 53% gross profit margin throughout the quarter, indicating operational expenses remained considerably below prevailing market prices.
Approximately one-third of the company’s current bitcoin inventory originated from direct mining activities. The remaining two-thirds were obtained through direct market acquisitions and strategic business arrangements.
The organization depends substantially on operational infrastructure supplied by Hut 8 (HUT), its majority stakeholder, to maintain large-scale mining capabilities.
Equity Financing and Digital Asset Reserves
American Bitcoin generated $150.5 million through an at-the-market equity program throughout the fourth quarter. These proceeds were deployed to acquire additional bitcoin, expanding per-share cryptocurrency exposure by roughly 50%.
Current holdings have surpassed 6,000 BTC, representing an increase from the 5,401 bitcoin held at 2025’s conclusion. Eric Trump verified these updated holdings in an official communication.
Eric Trump and Donald Trump Jr. collectively control a 20% ownership stake in the enterprise. Donald Trump is additionally identified as a shareholder.
ABTC completed its public market debut in September 2025, shortly before bitcoin reached its all-time peak valuation.
The equity has declined nearly 90% from its previous high near $9 achieved last year. Throughout the trailing twelve-month period, shares have depreciated approximately 22%.
During pre-market activity on earnings announcement day, ABTC shares advanced 3.8%, trading at $1.09.
Hut 8, the controlling shareholder, released its own quarterly results one day prior. Its shares fell 7% following the disclosure, even as competing firms MARA Holdings (MARA) and Riot Platforms (RIOT) experienced upward momentum.
Hut 8 concluded 2025 with an 8,500 MW project pipeline under development and obtained a fresh $200 million revolving credit arrangement, expanding aggregate credit availability to $400 million.
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