American Bitcoin Corp., a Bitcoin mining company with ties to the Trump family, recorded a net loss of $82 million in the first quarter of 2026. This follows a $59 million loss in the previous quarter (ending December 31), making it the second consecutive quarterly loss for the Miami-based firm. The company, launched last year, has seen its financial performance impacted by a significant drop in the value of its cryptocurrency holdings.
Revenue for American Bitcoin Corp. declined by approximately 20% to $62 million in the first quarter. This downturn aligns with a broader industry trend of lower Bitcoin prices and tighter mining margins, which have put pressure on cryptocurrency miners. Despite efforts to improve efficiency, the company continues to face financial challenges.
The company's shares experienced a significant drop, falling 33% at market open and eventually more than 50% within minutes. This rapid decline made American Bitcoin Corp. a symbol of the broader crypto market wipeout in late 2025, with Trump family-linked ventures experiencing even steeper declines than the general crypto market. Cryptobriefing.com reported that Eric Trump's Bitcoin mining venture has lost over $600 million due to a 95% drop in the market value of American Bitcoin Corp.
