American Bitcoin— the bitcoin mining and accumulation vehicle backed by the Trump family—reported a $59 million loss in Q4 as a sharp slide in BTC hammered the value of its holdings. The company, which went public in September (just weeks before bitcoin hit its all-time high), combines mining operations with open-market purchases and strategic acquisitions. Roughly one-third of its bitcoin inventory comes from its own mining; the rest was bought on the market or acquired through strategic deals. American Bitcoin now holds more than 6,000 BTC. During the quarter the firm generated $150.5 million from an at-the-market (ATM) stock offering — proceeds that it used to increase its per-share bitcoin exposure by nearly 50%. Revenue rose 22% versus Q3, and mining produced a strong 53% gross margin, implying production costs were well below spot prices even as BTC softened. However, new Financial Accounting Standards Board (FASB) guidance requires companies to mark crypto holdings to market. Bitcoin’s 23% decline in the period forced American Bitcoin to record a $227 million non-cash markdown, producing the $59 million headline Q4 loss. Shares were changing hands higher in pre-market trading, up about 3.8% at $1.09, but remain nearly 90% below last year’s peak near $9. American Bitcoin’s majority owner, Hut 8, also released Q4 results this week; its shares slipped about 7% even as some mining peers such as Marathon Digital and Riot Platforms gained ground. Hut 8 said it finished the year with an 8,500 MW development pipeline, secured a new $200 million revolving credit facility with Two Prime, and expanded its Coinbase facility to $200 million — bringing its total credit capacity to $400 million. Those moves boost liquidity and growth optionality for the group as the mining sector navigates price volatility and accounting headwinds. Read more AI-generated news on: undefined/news

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