American Bitcoin reported an $81.8 million net loss in Q1 2026 despite setting a new quarterly production record of 817 BTC and cutting mining costs by 23%. The loss was driven by a 22% decline in bitcoin prices, triggering a $117.2 million non-cash impairment charge on the company’s holdings. CEO Mike Ho emphasized that the underlying business was profitable and no coins were sold. The company also purchased 803 BTC for its treasury, bringing total holdings to 7,021 BTC. Operating expenses totalled $150.7 million for the quarter, and ABTC shares fell 7% in pre-market trading after missing analyst estimates.

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