American Bitcoin, a Nasdaq-listed cryptocurrency mining company, has reported a remarkable increase in its Bitcoin production and reserves for the first quarter. The company stated that its strategic reserve reached 7,021 BTC by the end of the quarter, a significant rise from 5,401 BTC at the end of 2025. This growth reflects American Bitcoin’s ongoing commitment to its Bitcoin accumulation strategy, which encompasses both mining operations and treasury purchases.
Notably, the company now holds over 7,300 BTC, which positions it among the largest publicly traded Bitcoin companies by total holdings. In Q1, American Bitcoin achieved record mining production, extracting a total of 817 BTC—its highest quarterly output to date. The company augmented its reserves by acquiring approximately 803 BTC through strategic treasury purchases during the same period.
American Bitcoin’s performance translated into an increase in “satoshis per share,” which rose by approximately 20% during the quarter. This upward movement was driven by a 30% increase in Bitcoin holdings, contrasted against a mere 9% growth in shares outstanding. Despite a decline in mining revenue to around $62.1 million—down from $78.3 million in Q4—largely due to a drop in average revenue per Bitcoin mined, the company’s gross margin remained robust at over 50%. The average cost to mine a Bitcoin also improved significantly, decreasing to about $36,200 from $46,900 in the previous quarter.
Management emphasized a focus on efficiency and balance-sheet expansion rather than reacting to short-term price fluctuations. Co-founder and Chief Strategy Officer Eric Trump highlighted that American Bitcoin managed to mine at a 47% discount to market prices, adding more than 1,600 BTC to its reserves while scaling its mining capacity to over 28 exahash. CEO Mike Ho confirmed that the company did not sell any Bitcoin during the quarter. Meanwhile, President Matthew Prusak reiterated that the business model prioritizes mining, accumulation, and disciplined capital allocation.
For companies in the public-market Bitcoin mining sector, American Bitcoin’s strategy underscores a shift in focus from merely hashrate growth to a more comprehensive approach that combines production scale, lower operational costs, and robust reserve growth as components of a sustainable accumulation model. Currently, American Bitcoin Corp.’s stock is trading at $1.25 per share, while Bitcoin itself is priced at $81,335 per digital token.
