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American Bitcoin Corp
(NASDAQ:ABTC)
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Rating:45Neutral
Price Target:
$8.50
▲(553.85% Upside)
Action:Reiterated
Date:07/08/26
The score is held down primarily by weak financial quality—very large operating losses and material cash burn—along with a clearly bearish technical setup (well below major moving averages with negative MACD). The earnings call adds support via strong operational execution (higher SPS, reserve growth, improving mining costs), but valuation remains hard to justify on earnings given the negative P/E and the lack of dividend yield data.
Positive Factors
Reserve Accumulation & Production
Rapid reserve accumulation and record quarterly production materially increase the company's owned digital-asset base, reducing future purchase needs and providing a durable earnings/treasury buffer. This strengthens long-term optionality versus pure spot exposure and supports asset-backed growth strategies.
Negative Factors
Sustained Cash Burn
Consistent negative operating and free cash flow indicate the business consumes capital to sustain growth and operations. Over months this necessitates external financing or equity issuance, raising dilution risk and constraining reinvestment capacity if commodity-driven revenue stays suppressed.
Read all positive and negative factors
Positive Factors
Negative Factors
Reserve Accumulation & Production
Rapid reserve accumulation and record quarterly production materially increase the company's owned digital-asset base, reducing future purchase needs and providing a durable earnings/treasury buffer. This strengthens long-term optionality versus pure spot exposure and supports asset-backed growth strategies.
Read all positive factors
American Bitcoin Corp (ABTC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$446.38M
Dividend YieldN/A
Average Volume (3M)1.26M
Price to Earnings (P/E)―
Beta (1Y)5.19
Revenue Growth1310.53%
EPS Growth70.57%
CountryUS
Employees3
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-7.31
Shares Outstanding24,004,726
10 Day Avg. Volume2,071,410
30 Day Avg. Volume1,257,377
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)2.31
Price to Sales (P/S)8.31
P/FCF Ratio-19.33
Enterprise Value/Market Cap2.52
Enterprise Value/Revenue5.46
Enterprise Value/Gross Profit11.95
Enterprise Value/Ebitda-13.75
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.15
Revenue Forecast (FY)$313.30M
American Bitcoin Corp Business Overview & Revenue Model
Company Description
American Bitcoin Corp (ABTC) operates as a firm focused on strategically accumulating and mining Bitcoin. The company was established through the consolidation of American Data Centers and Hut 8’s mining division. Its core mission is to boost its ...
American Bitcoin Corp Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 03, 2026
Earnings Call Sentiment Positive
Operationally, the company showed strong execution: record production, rapid reserve accumulation (+1,620 BTC; ~30% growth), meaningful SPS accretion (~20% QoQ), fleet expansion to ~28.1 EH/s, and a ~23% reduction in cost to mine. Short-term financials were negatively impacted by a ~22% decline in Bitcoin price that reduced revenue (~$78.3M to $62.1M) and produced a large noncash mark-to-market loss (~$117M) that drove a GAAP net loss. Management emphasizes the noncash nature of the loss, continued accumulation (no coin sales), and structural advantages (Hut 8 partnership, asset-light model) while acknowledging share issuance/dilution from the ATM program and elevated G&A as a percent of revenue due to the price-driven revenue decline. On balance, operational positives and compounding reserve growth outweigh the near-term accounting and market headwinds.Positive Updates
Record Quarterly Bitcoin Production
Mined 817 Bitcoin in Q1 2026, the highest quarterly production in company history and up from 783 BTC in Q4 2025; Q1 production represented ~33% of total Bitcoin mined since launch.
Negative Updates
Revenue Decline Driven by Bitcoin Price Drop
Total revenue fell to $62.1 million in Q1 from $78.3 million in Q4 2025 (≈ -20.7% sequentially). The decline was driven by a ~22% drop in average Bitcoin price during the quarter (from ≈ $87,500 to ≈ $68,200).
Read all updates
Q1-2026 Updates
Positive
Negative
Record Quarterly Bitcoin Production
Mined 817 Bitcoin in Q1 2026, the highest quarterly production in company history and up from 783 BTC in Q4 2025; Q1 production represented ~33% of total Bitcoin mined since launch.
Read all positive updates
Company Guidance
Management’s guidance centered on three priorities — continued Satoshis‑per‑share (SPS) accretion, fleet deployment/optimization, and operating leverage — and was quantified with many metrics: SPS rose ~20% in Q1 from 554 to ~663 (now >690), strategic reserves grew from 5,401 to 7,021 (+1,620 BTC, ~30% in 90 days) after mining 817 BTC in Q1 (256/275/286 monthly) and ~803 BTC of ATM‑funded purchases; owned capacity increased to ~28.1 EH/s nameplate (~90,000 miners, up from ~78,000; 25 EH/s at quarter end) after Drumheller was fully energized on April 22 and the acquisition of ~11,298 next‑gen miners adding ~3.05 EH/s at ~13.5 J/TH; cost to mine fell to ≈$36,200/BTC (down ~23% from ~$46,900), mining gross profit was ≈$32.5M with ~52% margin, revenue was $62.1M, cost of mining $29.6M, D&A ~$26.6M and G&A ~$6.9M (~$2.3M/month, ~11% of revenue) with management expecting G&A% to compress as scale increases; financing via the ATM generated ~$111M in Q1 (84M shares) with cumulative ATM proceeds ~$351.5M (16.7% of a $2.1B shelf), and the quarter included a noncash mark‑to‑market loss on digital assets of ≈$117.2M partially offset by a ≈$37.3M derivatives gain.American Bitcoin Corp Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
55
Neutral
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 206.04M | 185.16M | 71.54M | 64.98M | 65.70M | 17.63M |
| Gross Profit | 94.09M | 93.16M | 32.03M | 21.37M | 23.31M | 5.02M |
| EBITDA | -81.74M | -113.05M | 519.59M | 44.03M | -67.58M | -10.71M |
| Net Income | -143.03M | -153.17M | 428.94M | 39.61M | -104.21M | -31.33M |
Balance Sheet | ||||||
| Total Assets | 1.30B | 1.25B | 1.11B | 18.86M | 19.47M | 94.48M |
| Cash, Cash Equivalents and Short-Term Investments | 10.05M | 3.82M | 92.39M | 4.33M | 7.88M | 13.09M |
| Total Debt | 202.45M | 188.40M | 0.00 | 14.87M | 14.61M | 17.30M |
| Total Liabilities | 609.17M | 580.69M | 91.33M | 19.43M | 24.29M | 34.53M |
| Stockholders Equity | 694.83M | 665.82M | 1.02B | -574.00K | -4.83M | 59.95M |
Cash Flow | ||||||
| Free Cash Flow | -118.79M | -79.61M | -89.71M | 1.12M | -10.93M | -8.21M |
| Operating Cash Flow | -118.90M | -79.61M | -54.03M | 3.01M | -10.90M | -8.17M |
| Investing Cash Flow | -458.24M | -398.26M | -66.59M | -2.25M | -3.97M | -10.49M |
| Financing Cash Flow | 587.61M | 481.69M | 120.62M | -109.00K | 8.64M | 14.74M |
American Bitcoin Corp Technical Analysis
Negative
1.30
Price Trends
13.78
Negative
14.75
Negative
33.91
Negative
Market Momentum
-2.15
Positive
17.57
Positive
6.65
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABTC, the sentiment is Negative. The current price of 1.3 is below the 20-day moving average (MA) of 10.20, below the 50-day MA of 13.78, and below the 200-day MA of 33.91, indicating a bearish trend. The MACD of -2.15 indicates Positive momentum. The RSI at 17.57 is Positive, neither overbought nor oversold. The STOCH value of 6.65 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ABTC.
American Bitcoin Corp Risk Analysis
American Bitcoin Corp disclosed 60 risk factors in its most recent earnings report. American Bitcoin Corp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
American Bitcoin Corp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $4.05B | 13.54 | 24.27% | 1.66% | 7.85% | 46.95% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
59 Neutral | $9.51B | ― | -117.65% | ― | 37.96% | -506.10% | |
56 Neutral | $8.13B | ― | -28.78% | ― | 42.40% | -72.16% | |
46 Neutral | $4.80B | -2.27 | -52.07% | ― | 23.08% | -291.74% | |
45 Neutral | $446.38M | -0.85 | -29.72% | ― | 1310.53% | 70.57% | |
44 Neutral | $590.13M | -3.53 | -0.14% | ― | 13.14% | 4.89% |
* Financial Sector Average
ABTC
American Bitcoin Corp
6.13
-95.12
-93.95%
RIOT
Riot Platforms
20.97
8.46
67.59%
MKTX
Marketaxess Holdings
113.86
-99.43
-46.62%
MARA
MARA Holdings
12.60
-6.61
-34.41%
BTBT
Bit Digital
1.69
-1.60
-48.63%
CIFR
Cipher Mining
22.11
16.08
266.67%
American Bitcoin Corp Corporate Events
Business Operations and StrategyRegulatory Filings and ComplianceShareholder MeetingsStock Split
American Bitcoin Corp executes reverse stock split initiative
Neutral
Jul 6, 2026
On July 2, 2026, American Bitcoin Corp. implemented a 1-for-15 reverse stock split of its Class A and Class B common shares, following shareholder approval at its June 22, 2026 annual meeting and board authorization the same day. The company’...
Executive/Board ChangesShareholder MeetingsStock Split
American Bitcoin Corp Sets 1-for-15 Reverse Stock Split
Neutral
Jun 24, 2026
On June 22, 2026, American Bitcoin Corp. held its 2026 Annual Meeting of Stockholders, where 93.56% of eligible voting power was represented and a quorum was achieved. Shareholders elected Asher Genoot to a three-year term as a Class I director en...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.