Bitcoin miner and treasury firm American Bitcoin, which is supported by members of the Trump family, has announced a net loss of $59.5 million for the final quarter of 2025 as the price of BTC dropped and changes in accounting standards forced it to write down the value of its cryptocurrency assets.
Quarterly Results: Revenue Gains but Big Losses
American Bitcoin Corp. (TICKER: ABTC) has reported its financials for the fourth quarter of 2025 to the U.S. Securities and Exchange Commission (SEC), which revealed a net loss of $59.5 million, a sharp contrast to the net profit of $3.48 million in the same quarter of the previous year.
The company posted a revenue of $78.3 million in the fourth quarter, a 22% increase from the previous quarter’s $64.2 million. However, this was slightly lower than analysts’ estimates of $79.6 million.
The major loss was mainly because of a non-cash write-down of approximately $227 million in the Bitcoin reserves of American BTC. This is because of the new Financial Accounting Standards Board rules, which require companies to value their digital assets at market prices. This can have a huge impact on the bottom line.
Also Read: Bitcoin’s (BTC) Brutal 50% Crash Sparks Bold Revival Bet
Mining Operations and Bitcoin Reserves
Nonetheless, American BTC’s mining activities continued to be quite profitable despite the financial blow. During the period, the company mined 1,654 BTC, including 783 in Q4, at a gross margin of about 53%, which is a sign that the company is doing well despite the decline in prices.
The total Bitcoin holdings increased to over 6,000 BTC, up from 5,401 at the end of 2025. About a third of this was mined, while the rest was acquired through open market purchases. The expanded reserve was pointed out by Eric Trump, the co-founder and Chief Strategy Officer, as part of the company’s long-term accumulation plan.
American BTC also strengthened its capital base by raising $150.5 million through an at-the-market equity offering in the quarter. This move also helped improve BTC exposure per share.
Stock Performance and Market Reaction
American BTC was listed on the Nasdaq exchange in September 2025, just before the all-time price peak of BTC. Since then, the stock has experienced severe declines, trading down between 85-90% from its peak levels due to the volatile nature of the crypto markets.
Although revenue growth and increasing BTC holdings can be viewed as positive operating trends, the sharp markdown losses and stock price decline have raised concerns about the viability of mining and holding strategies as BTC moves into protracted drawdowns.
