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Trump Family Mining Firm American Bitcoin Records $153M Full-Year Net Loss in 2025 Due to Hodling

2026.02.26 22:30:56

Feb. 26 — American Bitcoin, a crypto mining firm backed by the Trump family, reported $185.2 million in revenue for its first year of operations, alongside a full-year net loss of $153.2 million. The loss was primarily driven by a $227.1 million non-cash unrealized loss on its Bitcoin holdings, stemming from fair value accounting adjustments. The company also posted an adjusted EBITDA of -$157.3 million for the year. Despite the loss, American Bitcoin expanded its Bitcoin holdings rapidly, ending 2025 with 5,401 BTC on its balance sheet. The firm mined 1,654 BTC from early Q2 through year-end, including 783 BTC in Q4. Roughly one-third of its year-end Bitcoin holdings came from mining, with the remainder acquired via strategic trades and market purchases. Driven by expanded mining scale and operational improvements, the company’s Q4 revenue hit $78.3 million, a 22% jump from the prior quarter. Its annual gross profit margin stood at approximately 50%, enabling it to accumulate Bitcoin at a structural discount to spot prices. Q4 gross margin reached 53%.
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