Trump-Linked American Bitcoin Corp. Posts Record Loss Amid Cryptocurrency Price Drop

Trump-linked American Bitcoin Corp., a Miami-based cryptocurrency mining firm co-founded by Donald Trump Jr. and backed by the Scaramucci family, reported a staggering $81.8 million net loss for Q1 2026.

The company's financial woes were largely driven by the 22 percent decline in Bitcoin prices during the quarter, which wiped out the gains from its record-breaking production metrics.

Despite mining a record 817 BTC and expanding its treasury to 7,021 BTC, the firm's digital assets suffered a $117.2 million non-cash accounting loss.

C.E.O. Mike Ho attempted to downplay the losses, emphasizing that the company did not sell any coins and remains committed to its accumulation strategy.

The financial volatility experienced by American Bitcoin Corp. serves as a critical case study for emerging digital asset markets globally, particularly in East Africa where companies like Gridless are utilizing stranded geothermal energy to power mining rigs.