Big loss for Trump American Bitcoin despite stability of Bitcoin

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Trump American Bitcoin recorded a loss of $ 45.2 million in the first quarter of 2026, at a time when the price of Bitcoin was fixed above $ 80,000, and this difference is the crux of the current story. The project, publicly supported by Donald Trump Jr. and backed by $250 million in political capital, it’s cashing in on an era that calls for more effective tools than just name recognition.

In fact, political issues and operational statistics are now moving in different directions, and it is clear that the language of numbers wins in the end.

A $45 million loss… What do the numbers say?

The main problem is the design of the work; The average cost of one Bitcoin mining in American Bitcoin is about $68,000, compared to the market price which briefly touched $81,425. This small limit disappears only when the electricity price increases or the hashrate decreases.

The company’s equipment is 18 joules per terahash (J / TH), compared to Marathon Digital’s 14 joules per terahash (J / TH), which means that ABTC uses more energy per unit of computational work, a difference whose results are increasing day by day.

Earnings fell by 41% year-on-year in the first quarter of 2026, and the hash rate dropped from 10 to 7.2 gigahad per second, a 28% drop that directly reduced Bitcoin production. According to the company’s data, it has mined 4,500 bitcoins in 2025 at an average price of $68,000, while it is taking a loan of more than $200 million to help expand its Texas and Wyoming facilities.

The last quarter of 2025 alone saw a net loss of $ 59.5 million due to a decrease in the value of the equipment of $ 70 million, which corresponds to a decrease of 23% in Bitcoin from $ 105,000 to $ 81,000.

Electricity prices remain the biggest obstacle; Glassnode’s data shows that the average cost of ABTC is about $0.045 per kilowatt hour, which is as high as local mining companies can afford in the years to come. This is not bad, but a direct result of the reduction in April 2024 that was designed to reduce bonuses, at a time when US energy funds are up 35% from 2025, according to a February 2026 analysis by TipRanks analyst James Thorne.

Does political support change the economics of mining?

Trump’s support has had tangible results in terms of money; Donald Trump Jr. joined the American Bitcoin group in September 2025, and just a few weeks later, the company closed a private investment of $ 250 million led by World Liberty Financial connected to Trump.

ABTC’s valuation rose by nearly 40% in the fourth quarter of 2025 due to political connections, Alex Thorne of Galaxy Digital reported in a March 2026 report. Political influence has succeeded in opening the doors to investment and increasing investor confidence, but it has failed to disrupt the network’s “transformative challenges.”

Political capital cannot negotiate with the Bitcoin protocol; The network’s hash rate continued to rise after the decline, driven by what Thorne described as “a massive influx of cheap Chinese currency,” putting a financial burden on all miners regardless of their membership.

As a result, AMBT’s stock fell by 12% following the release of its results for the first quarter of 2026, leaving behind Riot Platforms and Marathon Digital, as the market fell at a large price between media news and real production.

The weight of law and order remains another variable that this type of history can’t shake. Although Trump’s position in the crypto market attracts capital, the mining incentive bill introduced by the administration in March 2026, which aims to provide $ 1 billion to support mining in the region by the third quarter of 2026, may be a real decision in the future.

A note Big loss for Trump American Bitcoin despite stability of Bitcoin appeared for the first time Cryptonews Arabic.

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