BlockBeats report: On February 26, according to the financial report released by American Bitcoin, a cryptocurrency mining company supported by the Trump family, the company generated $185.2 million in revenue during its first year of operations, with a net loss of $153.2 million for the year. The loss was primarily due to a $227.1 million non-cash, unrealized loss on its Bitcoin holdings resulting from fair value accounting adjustments. American Bitcoin also reported an adjusted EBITDA of -$157.3 million for the year.
Despite incurring losses, the company rapidly expanded its Bitcoin holdings, carrying 5,401 BTC on its balance sheet by the end of 2025. The company stated that it mined a total of 1,654 BTC from the beginning of the second quarter through year-end, including 783 BTC in the fourth quarter. Approximately one-third of the Bitcoin holdings at year-end came from mining, with the remainder acquired through strategic trades and market purchases.
With expanded mining operations and improved efficiency, the company generated $78.3 million in revenue for the fourth quarter, a 22% sequential increase. The full-year gross margin was approximately 50%, enabling the company to accumulate Bitcoin at structural discounts below spot prices, with the fourth-quarter gross margin reaching 53%.