American Bitcoin Increases Reserve 30% to 7,000 BTC, Reduces Mining Cost to $36,200
ABTC•American Bitcoin increased its strategic reserve by 30% to over 7,000 BTC in Q1 2026 and mined a record 817 coins with a 52% gross margin despite a 22% Bitcoin price drop. The company cut its mining cost by 23% to $36,200 per Bitcoin and expanded capacity to 28.1 EH/s.
1. Q1 Financial Highlights
American Bitcoin grew its Bitcoin holdings from about 5,401 at December 31, 2025 to approximately 7,021 at March 31, 2026—a 30% increase achieved through mining and strategic purchases without selling any coins. Mining revenue totaled $62.1 million, with GAAP figures reflecting non-cash markdowns from a 22% Bitcoin price decline.
2. Mining Performance and Cost Efficiency
The mining platform produced a quarterly record of 817 Bitcoin at a 47% discount to spot, delivering a 52% gross margin despite lower prices. Cost to mine fell 23% to $36,200 per Bitcoin, driven by higher production volumes across a stable fixed cost base and disciplined energy pricing.
3. Capacity Expansion
Total fleet ownership reached 89,242 miners with 28.1 EH/s of capacity, up from 78,000 miners and 25.0 EH/s at year-end. Early March saw acquisition of 11,298 next-generation Bitmain machines deployed at Drumheller, adding 3.05 EH/s at 13.5 J/TH, fully energized by April 22, 2026.
