Trump Family'S Bitcoin Miner Now Top 16 Holder

American Bitcoin (@ABTC) (Nasdaq: $ABTC), the Bitcoin accumulation platform co-founded by @EricTrump, has cemented its place among the world's largest $BTC holders after reporting first-quarter 2026 results that showed rapid reserve growth despite a challenging quarter for Bitcoin prices.

Reserve Climbs 30% in a Single Quarter

The company ended Q1 2026 with 7,021 BTC in its strategic reserve, up roughly 30% from the 5,401 BTC it held at the close of 2025. That growth came from two channels: 817 BTC mined during the quarter, a record for the company, and a further 803 BTC acquired through open-market treasury purchases. The combined additions pushed American Bitcoin into the position of the 16th largest public Bitcoin holder globally, according to data tracked by BitcoinTreasuries.net.

On the mining side, the company delivered a 52% gross margin despite Bitcoin falling approximately 22% quarter over quarter. Cost to mine dropped 23% to around $36,200 per coin, down from roughly $46,900 in Q4 2025, reflecting higher production volume spread across a relatively stable fixed cost base. Satoshis per share rose 20% to 663, meaning each share of $ABTC now represents more Bitcoin than it did three months ago.

GAAP Losses Driven by Accounting Rules, Not Coin Sales

The GAAP results were considerably weaker. American Bitcoin posted an $81.8 million net loss for the quarter, with negative $91.3 million in adjusted EBITDA. The primary driver was a $117.2 million unrealized loss on digital assets, a consequence of fair-value accounting rules introduced by FASB that require companies to mark their Bitcoin holdings to market each reporting period. Notably, the company did not sell a single coin during the quarter.

American Bitcoin is a majority-owned subsidiary of Hut 8 Corp. and describes its model as combining industrial-scale Bitcoin mining with disciplined open-market accumulation. The firm has grown its reserve at a pace that has drawn comparisons to larger treasury players. For context, Strategy Inc. remains the dominant corporate Bitcoin holder with more than 700,000 BTC, while MARA Holdings holds around 38,689 BTC.

The Q1 results were released after markets closed on May 6, 2026.

Sources:
American Bitcoin Q1 2026 Earnings Press Release, PR Newswire
American Bitcoin overtakes Galaxy Digital in Bitcoin rankings, CoinDesk
American Bitcoin Corp Bitcoin Treasury Holdings, BitcoinTreasuries.net