American Bitcoin (ABTC) investor relations material

Executive summary

• Achieved record Bitcoin production in Q1 2026, mining 817 BTC, and expanded operational capacity to over 28 exahash per second, the highest quarterly output since inception.

• Strategic Bitcoin reserve grew to 7,021 BTC at quarter end, up over 30% from year-end, making the company one of the largest public Bitcoin holders globally.

• Maintained strong operational performance and cost discipline despite a 22% decline in Bitcoin price, with no BTC sold during the quarter.

• Pursues a layered strategy integrating mining, treasury, and ecosystem services, leveraging partnerships for rapid deployment and scalability.

Financial highlights

• Q1 2026 revenue was $62.1 million, down from $78.3 million in Q4 2025, primarily due to a 22% decline in Bitcoin price.

• Cost to mine per Bitcoin dropped to $36,200, a 23% improvement from $46,900 in Q4.

• Gross margin remained above 50%, holding at approximately 52% despite lower BTC prices.

• Net loss for Q1 2026 was $81.8 million, with a $117.2 million non-cash mark-to-market loss on held Bitcoin, partially offset by a $37.3 million gain on derivatives.

• General and administrative expenses were $6.9 million, down 6% sequentially, with SG&A as a percentage of revenue at approximately 11%.

Outlook and guidance

• Plans to accelerate Bitcoin accumulation through public market capital raises, including an at-the-market (ATM) offering of up to $2.1 billion in primary shares.

• Focused on fleet deployment, efficiency improvements, and compounding Bitcoin reserves while maintaining balance sheet flexibility.

• Targets continued hashrate growth and aims to establish itself as North America's largest self-mining operator.