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American Bitcoin Corp
(NASDAQ:ABTC)
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Rating:44Neutral
Price Target:
$6.00
▲(4.90% Upside)
Action:Reiterated
Date:08/05/26
Overall score is held down primarily by weak financial performance (large losses and substantial negative free cash flow) and a clearly bearish technical trend (price well below major moving averages with negative MACD). The earnings call points to improving operational execution and BTC reserve accretion, which provides some offset, but valuation is difficult to support with a negative P/E and no indicated dividend yield.
Positive Factors
Strategic BTC reserve accretion
Meaningful quarter-over-quarter BTC reserve accumulation increases owned digital-asset backing per share and reduces reliance on spot sales to fund operations. Over months this builds a structural asset base that can support long-term shareholder value and optionality versus pure cash-only models.
Negative Factors
Sustained negative operating and free cash flow
Persistent multi-quarter negative operating and free cash flow creates funding pressure and reduces the firm's flexibility to invest, add capacity, or weather BTC price declines without external capital. Over 2-6 months this elevates refinancing or dilution risk if losses continue.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic BTC reserve accretion
Meaningful quarter-over-quarter BTC reserve accumulation increases owned digital-asset backing per share and reduces reliance on spot sales to fund operations. Over months this builds a structural asset base that can support long-term shareholder value and optionality versus pure cash-only models.
Read all positive factors
American Bitcoin Corp (ABTC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$401.96M
Dividend YieldN/A
Average Volume (3M)1.51M
Price to Earnings (P/E)―
Beta (1Y)5.20
Revenue Growth1310.53%
EPS Growth70.57%
CountryUS
Employees2
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-2.86
Shares Outstanding24,004,726
10 Day Avg. Volume1,450,714
30 Day Avg. Volume1,514,012
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$15.00Price Target Upside162.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-1.1
Revenue Forecast (FY)$289.80M
American Bitcoin Corp Business Overview & Revenue Model
Company Description
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How the Company Makes Money
null...
American Bitcoin Corp Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 13, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution: record quarterly Bitcoin production (+14%), revenue growth (+8%) despite a declining Bitcoin price, disciplined unit economics (cost to mine ~$36.5k vs revenue/BTC ~$71.9k), and meaningful strategic reserve accumulation (~14% BTC growth). Headwinds discussed were largely macro and industry-wide — Bitcoin price volatility (period decline ~12% and peak-to-trough -28%), modest gross margin compression (52% to 49%), elevated energy competition from AI data centers, and non-cash GAAP losses driven by fair-value accounting. On balance, operational progress and reserve accretion materially outweighed the macro and accounting headwinds, supporting a constructive outlook.Positive Updates
Record Quarterly Production
Mined 932 Bitcoin in Q2 2026 vs 817 BTC in Q1 2026, an increase of ~14% and the company's highest quarterly production on record.
Negative Updates
Bitcoin Price Volatility and Decline
Bitcoin price declined ~12% period-end Q1 to Q2 and experienced a peak-to-trough drop of ~28% from May 10 to June 26; broader context: Bitcoin is down ~50% from all-time highs, compressing mining revenue industry-wide.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Production
Mined 932 Bitcoin in Q2 2026 vs 817 BTC in Q1 2026, an increase of ~14% and the company's highest quarterly production on record.
Read all positive updates
Company Guidance
Management's near-term guidance reiterates a focus on operating excellence and growing Bitcoin ownership per share rather than short‑term market timing: they will prioritize optimizing for economic output (not simply maximizing uptime, particularly in summer/Texas) and pursue disciplined, opportunistic capital deployment (ATM capacity ~82% remaining; ~$4M of strategic at‑market purchases in Q2; no reserve sales). Key metrics they pointed to as the baseline for execution are Q2 production of 932 BTC (+14% QoQ) and record fleet scale (~90,000 miners / ~28.1 EH total, ~25 EH operational at ~14 J/TH), a strategic reserve of 8,002 BTC (+~1,000 BTC, ~14% QoQ) with Satoshis/share ≈11,000 (+~11% QoQ, +~170% since NASDAQ listing), revenue ≈$67M (+~8% QoQ) with revenue/BTC ≈$71,900 (‑~5% QoQ), cost to mine ≈$36,500 (≈ flat QoQ), gross margin ≈49%, cost of revenue ≈$34M, G&A ≈$7.7M (~11% of revenue) and GAAP net loss ≈$57.2M (including $71.2M fair‑value digital asset loss); they said they will update the market as new growth opportunities and site additions are evaluated.American Bitcoin Corp Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
54
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 271.67M | 185.16M | 71.54M | 64.98M | 65.70M | 17.63M |
| Gross Profit | 99.60M | 93.16M | 32.03M | 21.37M | 23.31M | 5.02M |
| EBITDA | -54.49M | -113.05M | 519.59M | 44.03M | -67.58M | -10.71M |
| Net Income | -194.92M | -153.17M | 428.94M | 39.61M | -104.21M | -31.33M |
Balance Sheet | ||||||
| Total Assets | 1.31B | 1.25B | 1.11B | 18.86M | 19.47M | 94.48M |
| Cash, Cash Equivalents and Short-Term Investments | 18.35M | 3.82M | 92.39M | 4.33M | 7.88M | 13.09M |
| Total Debt | 205.14M | 188.40M | 0.00 | 14.87M | 14.61M | 17.30M |
| Total Liabilities | 637.35M | 580.69M | 91.33M | 19.43M | 24.29M | 34.53M |
| Stockholders Equity | 672.07M | 665.82M | 1.02B | -574.00K | -4.83M | 59.95M |
Cash Flow | ||||||
| Free Cash Flow | -139.19M | -79.61M | -89.71M | 1.12M | -10.93M | -8.21M |
| Operating Cash Flow | -139.31M | -79.61M | -54.03M | 3.01M | -10.90M | -8.17M |
| Investing Cash Flow | -462.21M | -398.26M | -66.59M | -2.25M | -3.97M | -10.49M |
| Financing Cash Flow | 619.92M | 481.69M | 120.62M | -109.00K | 8.64M | 14.74M |
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 |
|---|---|---|---|---|---|---|---|
83 Outperform | $5.71B | 19.12 | 24.74% | 2.64% | 3.68% | 42.71% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
54 Neutral | $9.13B | -9.54 | -53.39% | ― | 37.96% | -506.10% | |
50 Neutral | $7.63B | -8.58 | -28.78% | ― | 42.40% | -72.16% | |
50 Neutral | $4.32B | -2.06 | -52.07% | ― | 23.08% | -291.74% | |
44 Neutral | $401.96M | -0.76 | -29.72% | ― | 1310.53% | 70.57% | |
44 Neutral | $457.44M | -2.74 | -0.14% | ― | 13.14% | 4.89% |
* Financial Sector Average
ABTC
American Bitcoin Corp
6.19
-80.06
-92.82%
RIOT
Riot Platforms
21.21
9.63
83.16%
MKTX
Marketaxess Holdings
162.62
-18.45
-10.19%
MARA
MARA Holdings
10.65
-5.30
-33.23%
BTBT
Bit Digital
1.37
-1.59
-53.73%
CIFR
Cipher Mining
18.21
13.34
273.92%
American Bitcoin Corp Corporate Events
Executive/Board Changes
American Bitcoin Names Paul Sacks Interim Chief Financial Officer
Neutral
Aug 3, 2026
On July 31, 2026, American Bitcoin Corp.’s board appointed Paul Sacks as Interim Chief Financial Officer, effective August 4, 2026, adding the role to his existing position as Head of Derivatives without changes to his compensation. Sacks, a...
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.