Trump-Backed American Bitcoin Posts $82M Q1 Loss Despite Record 817 BTC Mined

Trump-backed American Bitcoin recapped Q1 2026 on May 9 with an $82M net loss despite record 817 BTC mined, 803 BTC bought, and holdings rising to ~7,300 BTC after further purchases, as shares fell 8.4%. Story began May 6 with ABTC's narrower $81.8M loss, revenue up YoY to $62.1M, mining costs down 23% to $36,200/BTC amid 22% BTC price drop and reserve growth to 7,021 BTC. May 7 coverage noted revenue miss, peers' losses like Core Scientific's $347M (with 2,385 BTC sold) and Hut 8's $253M, plus AI pivots. Block Inc. reported $309M GAAP loss on May 8 from $173M BTC MTM despite 27% gross profit growth to $2.91B.