Key Highlights
- American Bitcoin Corp grew its BTC reserve from nothing in early Q2 2025 to 5,401 by year-end
- Around one-third of these BTC, 1,654 BTC, were self-mined
- Despite this operational performance, the company suffered a $59.5 million net loss in the fourth quarter
Trump family-backed Bitcoin mining and accumulation company, American Bitcoin Corp, disclosed its fourth quarter and full-year 2025 financial report.
Trump-Backed American Bitcoin Corp Grows Rapidly
On the balance sheet, Bitcoin holdings have witnessed a surge. The company scaled its reserve from zero at the start of Q2 of 2025 to 5,401 Bitcoin by December 31, 2025.
Around one-third of that total, 1,654 Bitcoin, including 783 mined in Q4 alone, came from self-production. The holding was acquired through transactions and at-the-market equity raises that generated $150.5 million in Q4 gross proceeds.
By February 24, this holding surpassed 6,000 Bitcoin, with some trackers listing 6,235 BTC. This holding makes American Bitcoin the 17th-largest Bitcoin treasury company.
The report revealed that the company’s Q4 revenue increased by 22% quarter-over-quarter to $78.3 million, up from $64.2 million in the third quarter. Satoshis-per-share, a key metric measuring Bitcoin per share, soared 49% in Q4 to 554.
The surge in revenue came from fleet expansion, operational optimization, and higher Bitcoin mining.
Eric Trump, Co-Founder and Chief Strategy Officer of American Bitcoin, stated in the press release, “We launched American Bitcoin in March 2025 with a clear mandate to accumulate Bitcoin at scale. Six months later, we were trading on the Nasdaq. By year-end, we held 5,401 Bitcoin on the balance sheet, and that figure has since grown to more than 6,000 Bitcoin. That kind of progress does not happen by accident. It reflects decisive execution and a team operating with conviction.
“Our model combines scaled mining production with at-the-market purchases for rapid accumulation of our strategic reserve. We are building this business to steadily expand our Bitcoin position and strengthen our balance sheet across market cycles,” he further said.
Mike Ho, CEO of American Bitcoin, mentioned in the press release, “2025 marked our first year operating as a standalone public company, and our results reflect disciplined execution against a clear capital and operating strategy. We expanded our mining platform and grew our Bitcoin reserve through a combination of increased production and at-the-market purchases.”
Despite the good operational performance, there are some negative points in the balance sheet. The company witnessed a $59.5 million in the net loss in Q4, compared to a profit in Q3. This loss came from $122.2 million in non-cash mark-to-market losses on digital assets amid late-2025 Bitcoin price weakness.
In the entire year, the net loss reached $153.2 million. This was mainly due to a $227.1 million FASB fair-value adjustment. For comparison, the company reported net income of $428.9 million in 2024.
