American Bitcoin Corp (Nasdaq: ABTC), the Hut 8 Corp subsidiary backed by the Trump family, has crossed 8,000 bitcoin in its treasury, up from 5,401 BTC at the end of 2025. The climb comes as the company juggles two collection channels: mining output and direct market purchases.
In the first quarter alone, American Bitcoin mined 817 BTC while buying 1,620 BTC for its reserve, a combined gain of roughly 30 percent in three months. That velocity has continued into summer. The pace puts American Bitcoin among the larger corporate bitcoin holders, at times exceeding Galaxy Digital's public reserve.
The mining economics shifted in the company's favor during Q1. American Bitcoin's cost to produce a single bitcoin dropped to $36,200, a 23 percent decline from $46,900 in the prior quarter. The improvement came as the company deployed 11,298 additional ASIC miners at its Drumheller, Alberta facility in March, lifting total capacity by about 12 percent and adding 3.05 exahashes per second. Hashing power now aligns with treasury ambitions rather than constraining them.
But the financial picture tells a different story. The company reported a net loss of $81.8 million for Q1 on revenue of $62.1 million, a gap that reflects both the crypto market decline and heavy spending on expansion. Bitcoin Magazine attributed the loss to wider market conditions and the scale of the buildout, though the company continues to buy and mine despite the red ink.
American Bitcoin reshaped its equity structure in early July via a 1-for-15 reverse stock split that took effect July 2. Shareholders had approved the measure at the June 22 annual meeting. The move is housekeeping to adjust share count, not a pivot in strategy. Where other miners have shifted resources toward artificial-intelligence data centers, American Bitcoin has doubled down on bitcoin mining and treasury accumulation, betting its fortunes on the asset itself.
The model works only if bitcoin holds value and the company sustains its spending discipline. At current levels, American Bitcoin has locked in mining economics that make production cheaper than it was six months ago, a structural advantage if hash price and difficulty stay within recent ranges. The stock was up 7 percent at the time of the original report.
The treasury keeps climbing. What matters next is whether the company can service its debt and capital spending without another round of dilution while bitcoin does the heavy lifting on valuation.