American Bitcoin (ABTC), backed by the Trump family, reported a net loss of nearly $82 million for Q1 2026, despite achieving a record mining output of 817 BTC. The company also increased its Bitcoin reserves to approximately 7,300 BTC by purchasing additional units. However, mining revenues fell to $62.1 million from $78.3 million due to a drop in Bitcoin prices, impacting earnings. Despite the financial loss, ABTC improved its operational efficiency, reducing the cost to mine Bitcoin by 23% to $36,200 per unit. The company maintained a gross margin of over 50% and increased its satoshis per share by 20% quarter-over-quarter. CEO Mike Ho highlighted that the underlying business remained profitable when excluding non-cash adjustments. ABTC shares fell 8.4% following the earnings release, reflecting broader market challenges faced by Bitcoin miners.