American Bitcoin Corp. reported significant financial growth in its latest quarterly filing, with revenues reaching $62.1 million for the three months ended March 31, 2026, compared to $12.3 million in the same period last year. This increase of $49.8 million was primarily driven by enhanced mining efficiencies following fleet upgrades and the deployment of additional Bitcoin miners. The company mined 817 Bitcoin during the quarter, a substantial increase from 135 Bitcoin mined in the prior year, although the average revenue per Bitcoin decreased from approximately $91,500 to $76,077.
The company's operating expenses also rose, totaling $150.7 million, up from $135.6 million in the previous year. The increase was largely attributed to a $20.2 million rise in depreciation and amortization expenses, reflecting the expanded asset base from the fleet upgrades. General and administrative expenses decreased to $6.9 million from $14.4 million, due to streamlined operations and reduced headcount. Despite these changes, American Bitcoin Corp. reported a net loss of $81.8 million, an improvement from the $100.6 million loss recorded in the same quarter of 2025.
In terms of operational developments, American Bitcoin Corp. has made strides in expanding its mining fleet, which now includes approximately 59,000 miners with a total capacity of 28.1 EH/s. The company has accumulated a strategic Bitcoin reserve of 7,021 Bitcoin as of March 31, 2026, positioning it among the top publicly traded Bitcoin treasury companies. The company also pledged 3,090 Bitcoin for miner purchases, reflecting its ongoing investment in expanding its mining capabilities.
The filing also highlighted the company's strategic initiatives, including the establishment of a Controlled Equity Offering Sales Agreement, allowing it to raise up to $2.1 billion through the sale of Class A common stock. In the first quarter of 2026, the company raised $110.5 million through this program. Looking ahead, American Bitcoin Corp. aims to continue its focus on Bitcoin accumulation and operational efficiency, navigating the challenges posed by market volatility and competition in the Bitcoin mining sector. The company remains optimistic about its growth trajectory, supported by its strategic investments and operational enhancements.
About Gryphon Digital Mining, Inc.
Gryphon Digital Mining, Inc. operates bitcoin mining activities using ASIC mining equipment hosted at third-party data centers in the U.S. The company generates revenue by contributing computational power to verify Bitcoin transactions, earning bitcoin rewards. Gryphon’s business model focuses on mining and holding bitcoin while managing operational costs through hosting agreements. It targets the digital asset market, leveraging strategic partnerships and infrastructure to optimize mining efficiency and scalability.
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