Monitor the company's Bitcoin holdings and revenue trends in future quarters. The strong Q4 revenue growth and high gross margin suggest the mining operations are scaling effectively. The non-cash nature of the mark-to-market loss means the core business is generating positive operational results despite the reported net loss.
Price Chart
Executive Summary
American Bitcoin Corp. reported strong Q4 2025 financial results, with revenue of $78.3 million (22% QoQ growth) and a 53% gross margin. The company mined 783 Bitcoin in Q4 and held 5,401 Bitcoin on its balance sheet by year-end. Despite a $153.2 million net loss driven by non-cash mark-to-market losses on Bitcoin holdings, the company demonstrated disciplined cost management and strategic Bitcoin accumulation. The results reflect successful execution of its mining and treasury strategy.
Key Financial Metrics
Key Facts
- Q4 2025 revenue was $78.3 million, up 22% from Q3 2025 ($64.2 million)
- Full-year 2025 revenue was $185.2 million
- Q4 2025 gross margin was 53%
- Company mined 783 Bitcoin in Q4 2025
- Year-end Bitcoin holdings were 5,401 BTC (up from zero at start of Q2)
- Net loss for 2025 was $153.2 million, primarily due to $227.1 million non-cash mark-to-market loss on Bitcoin
- Adjusted EBITDA for 2025 was $(157.3) million
- Company generated $150.5 million from its at-the-market program in Q4
Financial Impact
Revenue grew to $185.2 million for the year and $78.3 million in Q4, with a 53% gross margin. The company held 5,401 Bitcoin at year-end.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Q4 2025 | $78.3M | +22.0% |
Risk Factors
- Net loss driven by non-cash mark-to-market accounting for Bitcoin holdings
- Volatility in Bitcoin prices could impact future financial results
- Reliance on Bitcoin mining operations exposes the company to cryptocurrency market risks
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-073305 |
| Document: abtc-20260226.htm | 0001193125-26-073305 |
| Document: 0001193125-26-073305-index-headers.html | 0001193125-26-073305 |
| Document: 0001193125-26-073305-index.html | 0001193125-26-073305 |
| Document: 0001193125-26-073305.txt | 0001193125-26-073305 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 7, 2026 8w ago | Insider Buy | $6.47 $7.99 | ▲ +23.49% | ▲ +23.89% | $8.51 (+31.53%) |
Aug 3, 2026 8w ago | 8-K | $5.85 $8.07 | ▲ +37.95% | ▲ +36.71% | $8.51 (+45.47%) |
Aug 3, 2026 8w ago | 8-K | $5.85 $8.07 | ▲ +37.95% | ▲ +36.71% | $8.51 (+45.47%) |
Jul 21, 2026 10w ago | ANALYST-UPGRADE | $6.47 $6.94 | ▲ +7.26% | ▲ +4.70% | $8.51 (+31.53%) |
Jul 10, 2026 12w ago | Press Release | $6.13 $6.47 | ▲ +5.55% | ▲ +3.12% | $8.51 (+38.83%) |
Apr 27, 2026 22w ago | DEFA14A | $18.15 $16.20 | ▼ −10.74% | ▼ −15.70% | $8.51 (−53.11%) |
Mar 3, 2026 30w ago | Insider Cluster | $1.03 $0.9240 | ▼ −10.29% | ▼ −5.89% | $8.51 (+726.21%) |
Mar 3, 2026 30w ago | Insider Cluster | $1.03 $0.9240 | ▼ −10.29% | ▼ −5.89% | $8.51 (+726.21%) |
Feb 26, 2026 31w ago | 8-K | $1.08 $0.9130 | ▼ −15.46% | ▼ −9.06% | $8.51 (+687.96%) |
US Market Status
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