Markets
What ho, old sport:
- The Trump brethren, those indefatigable scions of industry, have seen their American Bitcoin venture slash its mining costs by a staggering 23 percent in the first quarter, a feat as remarkable as it is bewildering, landing at a mere $36,200 per coin, while their peers wallow in the mire of $80,000.
- Alas, the ledger tells a tale of woe: an $81.8 million net loss, thanks to the capricious whims of bitcoin’s market value, though they insist their core operations are as profitable as a society hostess’s gossip column, once one ignores those pesky non-cash revaluations.
- With a 30 percent increase in their bitcoin hoard to 7,021 BTC, the Trumps stand athwart the trend, as their rivals flee to the siren call of AI and high-performance computing, leaving our heroes’ shares languishing 90 percent below their 2025 zenith.
In a world where the mining industry pivots to AI with the alacrity of a debutante chasing the latest fad, the Trump brothers remain steadfast, their bitcoin venture a beacon of contrarianism, or perhaps mere obstinacy. American Bitcoin (ABTC), that curious enterprise, has managed to trim its cost per coin by nearly a quarter in a mere three months, a feat as astonishing as finding a sober man at a Brighton weekend.
Their Wednesday filing reveals a cost of $36,200 to mine one bitcoin in Q1, down from $46,900 in Q4 2025, placing them well below the industry average of $80,000. A triumph, one might say, though whether it is of strategy or sheer luck remains a matter for the drawing rooms to debate.
This improvement, they claim, stems from spreading higher production volume across a stable fixed-cost base, coupled with what they modestly term “continued energy pricing discipline.” The Drumheller site in Alberta, switched on in late March, added 3.05 exahash of computing power, bringing their total fleet capacity to 28.1 exahash by quarter-end, with 89,000 machines toiling away like so many factory girls in a Dickens novel.
Yet, for all their efforts, the quarter ended with an $81.8 million net loss, largely due to the mark-to-market accounting of their bitcoin holdings, as the price plummeted 22 percent. Revenue, too, took a hit, falling to $62.1 million from $78.3 million in Q4 2025, with average revenue per coin mined dropping to $76,000 from $100,000. A sobering reminder that even the most disciplined energy pricing cannot outrun the fickle hand of the market.
Strip away the non-cash revaluations, however, and the underlying mining business is, they assure us, profitable. The company added 1,620 bitcoin to its strategic reserve, taking its holdings to 7,021 BTC, a 30 percent increase. Of these, 817 were mined, and 803 purchased on the open market, making American Bitcoin the 16th largest publicly traded bitcoin holder globally. A position of some distinction, though one wonders if it is a crown of thorns rather than laurels.
What sets this quarter apart is the stark contrast with their peers. While public miners have pivoted to AI and high-performance computing with the zeal of converts, signing over $70 billion in contracts and shedding 15,000 BTC to fund their new ventures, the Trumps remain steadfastly in the bitcoin trenches. Their shares, down 1 percent in after-hours trading, linger at nearly 90 percent below their September 2025 peak of $1.25, a reminder that loyalty, like virtue, is its own reward.
Read More
- Gold Rate Forecast
- What is Omoggle? The AI face-rating platform taking over Twitch
- Man pulls car with his manhood while on fire to raise awareness for prostate cancer
- Elden Ring Is Back With A New Free Game, Thanks To The Fans
- How To Grow Money Trees In Animal Crossing: New Horizons
- Bithumb’s Dance with Fate: Court Halts Ban, But BTC Blunder Looms
- Audible opens first ‘bookless bookstore’ in New York
- Detonate codes (December 2025)
- Apple TV’s Imperfect Women Becomes No. 1 Most-Watched Show Globally
- Steam Drops 24 Free Downloads In Limited-Time Giveaway
2026-05-07 09:58