American Bitcoin Corp is an American bitcoin mining and treasury management company majority owned by digital infrastructure company Hut 8 Mining. It is incorporated in Delaware with its headquarters in Miami, Florida.3 Its shares trade on Nasdaq under the symbol ABTC.1Wikipedia text CC BY-SA 4.0
$7.96up 0.31 (4.12%)Price as of Oct 15, 2026 at 17:33 UTC
American Bitcoin Corp is an American bitcoin mining and treasury management company majority owned by digital infrastructure company Hut 8 Mining. It is incorporated in Delaware with its headquarters in Miami, Florida.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Out of $185.2M in revenue.7 The company lost money this year.
Financial statements
Revenue11121314157$185.2M in 2025+1667% since 2018Gross profit1112131415$3.4M in 2023−44% since 2018Operating income11121314157-$228.0M in 2025+9156% since 2018Net income161713157-$153.2M in 2025+8933% since 2018
Revenue181920$67.0M in Q2 FY2026+4% since Q3 FY2025Operating income181920-$74.1M in Q2 FY2026Net income181920-$57.2M in Q2 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.7
Period ending
2025-12-31
2024-12-31
2023-12-31
Revenue
$185.2M
$71.5M
$65.0M
Cost of revenue (exclusive of depreciation and amortization shown below)
$92.0M
$39.5M
$43.6M
Depreciation and amortization
$58.2M
$22.7M
$14.4M
General and administrative expenses
$33.4M
$34.5M
$34.2M
Loss on sale of property and equipment
$2.5M
Loss (gain) on digital assets
$227.1M
-$509.3M
-$33.5M
Total operating expenses (income)
$321.2M
-$452.1M
$15.1M
Operating (loss) income
-$228.0M
$484.1M
$6.2M
Foreign exchange loss
-$300.0K
Interest expense
-$3.5M
-$8.8M
Gain on derivatives
$56.3M
$6.8M
Gain on warrant liability
$384.0K
Gain on debt extinguishment
$6.0M
$23.7M
Other income
$56.7M
$9.3M
$14.6M
(Loss) income from continuing operations before taxes
-$171.3M
$493.4M
$20.8M
Income tax benefit (provision)
$18.1M
-$59.6M
$18.8M
Net (loss) income from continuing operations
-$153.2M
$433.8M
$39.6M
Loss from discontinued operations (net of income tax benefit of nil, $1.6 million, and nil respectively)
-$4.8M
Net (loss) income
-$153.2M
$428.9M
$39.6M
Foreign currency translation adjustments
$4.5M
-$59.3M
$11.0M
Total comprehensive (loss) income
-$148.7M
$369.6M
$50.6M
Basic from continuing operations
-$0.17
$0.49
$0.04
Diluted from continuing operations
-$0.17
$0.49
$0.04
Basic
905.0M shares
891.8M shares
891.8M shares
Diluted
905.1M shares
891.8M shares
891.8M shares
Income tax benefit
-$1.6M
No quarter-by-quarter statement was filed.
Total assets12131415217$1.2B in 2025+5050% since 2019Total liabilities12131415217$580.7M in 2025+23675% since 2019Shareholders’ equity12131415217$665.8M in 2025+47456% since 2018Cash11121314217$3.8M in 2025+143% since 2018Long-term debt131415$5.1M in 2023+32% since 2020
Total assets181920$1.3B in Q2 FY2026+13% since Q3 FY2025Total liabilities181920$637.4M in Q2 FY2026+9% since Q3 FY2025Shareholders’ equity181920$672.1M in Q2 FY2026+98% since Q3 FY2025Cash181920$18.4M in Q2 FY2026+130% since Q3 FY2025
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.7
Period ending
2025-12-31
2024-12-31
2023-12-31
Cash
$3.8M
Deposits and prepaid expenses
$2.2M
$42.6M
Accounts and other receivable
$2.1M
Derivative asset
$18.1M
Digital assets - pledged for miner purchase, current portion
$92.4M
Digital assets receivable
$812.0K
Total current assets
$8.9M
$153.1M
Derivative asset
$101.2M
Property and equipment, net
$341.7M
$43.1M
Operating lease right-of-use-asset
$166.7M
Indefinite-lived intangible asset
$998.0K
Goodwill
$154.4M
$53.1M
$57.6M
Total non-current assets
$1.2B
$953.3M
Total assets
$1.2B
$1.1B
Accounts payable and accrued expenses
$5.8M
$31.0M
Due to Hut 8
$53.5M
Derivative liability
$18.4M
Income tax payable
$701.0K
$889.0K
Operating lease liability, current portion
$51.6M
Total current liabilities
$111.6M
$50.3M
Miner purchase liability
$332.2M
$15.1M
Deferred tax liabilities
$41.0M
Operating lease liability, less current portion
$136.8M
Warrant liability
$146.0K
Total non-current liabilities
$469.1M
$41.0M
Total liabilities
$580.7M
$91.3M
Additional paid-in capital
$718.3M
Retained earnings
-$52.5M
Accumulated other comprehensive loss
-$48.3M
Net Hut 8 investment
$1.1B
Total stockholders' equity
$665.8M
$1.0B
$473.8M
Total liabilities and stockholders' equity
$1.2B
$1.1B
Preferred stock, par value (in Dollars per share)
$0.00
$0.00
Preferred stock, shares authorized
100.0B shares
Preferred stock, shares issued
0 shares
0 shares
Preferred stock, shares outstanding
0 shares
0 shares
Period ending
2025-12-31
2024-12-31
2023-12-31
Cash
$3.8M
Deposits and prepaid expenses
$2.2M
$42.6M
Accounts and other receivable
$2.1M
Derivative asset
$18.1M
Digital assets - pledged for miner purchase, current portion
$92.4M
Digital assets receivable
$812.0K
Total current assets
$8.9M
$153.1M
Derivative asset
$101.2M
Property and equipment, net
$341.7M
$43.1M
Operating lease right-of-use-asset
$166.7M
Indefinite-lived intangible asset
$998.0K
Goodwill
$154.4M
$53.1M
$57.6M
Total non-current assets
$1.2B
$953.3M
Total assets
$1.2B
$1.1B
Accounts payable and accrued expenses
$5.8M
$31.0M
Due to Hut 8
$53.5M
Derivative liability
$18.4M
Income tax payable
$701.0K
$889.0K
Operating lease liability, current portion
$51.6M
Total current liabilities
$111.6M
$50.3M
Miner purchase liability
$332.2M
$15.1M
Deferred tax liabilities
$41.0M
Operating lease liability, less current portion
$136.8M
Warrant liability
$146.0K
Total non-current liabilities
$469.1M
$41.0M
Total liabilities
$580.7M
$91.3M
Additional paid-in capital
$718.3M
Retained earnings
-$52.5M
Accumulated other comprehensive loss
-$48.3M
Net Hut 8 investment
$1.1B
Total stockholders' equity
$665.8M
$1.0B
$473.8M
Total liabilities and stockholders' equity
$1.2B
$1.1B
Preferred stock, par value (in Dollars per share)
$0.00
$0.00
Preferred stock, shares authorized
100.0B shares
Preferred stock, shares issued
0 shares
0 shares
Preferred stock, shares outstanding
0 shares
0 shares
Cash from operations11121314157-$79.6M in 2025+2026% since 2018Capital spending14217$6.6M in 2024+16722% since 2021Free cash flow14157-$60.6M in 2024+639% since 2021
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.7
Period ending
2025-12-31
2024-12-31
2023-12-31
Net Income (Loss)
-$153.2M
$428.9M
$39.6M
Depreciation and amortization
$58.2M
$22.7M
$14.4M
Non-cash lease expense
$21.7M
Stock-based compensation
$2.1M
$9.2M
$9.1M
Bitcoin mining revenue
-$185.2M
-$71.5M
-$65.0M
Loss (gain) on digital assets
$227.1M
-$509.3M
-$33.5M
Deferred tax assets and liabilities
-$25.2M
$58.7M
-$19.6M
Gain on derivatives
-$56.3M
-$6.8M
Loss on sale of property and equipment
$2.5M
Gain on warrant liability
-$384.0K
Gain on debt extinguishment
-$6.0M
-$23.7M
Amortization of debt discount
$3.5M
$6.3M
Paid-in-kind interest expense
$1.9M
Loss on discontinued operations
$4.8M
Deposits and prepaid expenses
$193.0K
-$2.4M
-$2.3M
Accounts and other receivable
-$2.2M
Income taxes payable
-$188.0K
$122.0K
$767.0K
Accounts payable and accrued expenses
-$22.2M
$14.0M
$16.0M
Due to Hut 8
$53.5M
Net cash used in operating activities
-$79.6M
-$54.0M
-$56.0M
Proceeds from sale of digital assets
$3.4M
$69.8M
$63.7M
Purchases of digital assets
-$405.1M
-$100.7M
Deposit paid to purchase property and equipment
-$29.1M
-$966.0K
Purchases of property and equipment
-$6.6M
Proceeds from sale of property and equipment
$2.6M
Cash assumed from the Mergers
$894.0K
Net cash (used) provided by investing activities
-$398.3M
-$66.6M
$62.7M
Repayments of loans payable
-$11.5M
-$10.8M
Debt issuance costs paid
-$584.0K
Proceeds from the issuance of Class A common stock - private placement, net of issuance costs
$205.3M
Proceeds from the issuance of Class A common stock - at-the-market offering, net of issuance costs
$237.7M
Proceeds from the issuance of Class A common stock - warrant exercises
$6.0K
Net transfer from Hut 8 - non-cash
$38.7M
$132.1M
$4.6M
Net cash provided by (used in) financing activities
$481.7M
$120.6M
-$6.8M
Net increase in cash
$3.8M
Cash paid for income taxes
$6.0K
Digital assets received for the issuance of Class A common stock
$10.0M
Property and equipment acquired under miner purchase liability
$267.2M
Assets acquired, including goodwill, net of liabilities assumed in the Mergers, net of cash acquired
$134.9M
Warrants exercised
$67.0K
Reclassification of deposits and prepaid expenses to property and equipment
$42.5M
Debt extinguished
$96.7M
Assets transferred in debt extinguishment
$73.0M
Mining revenue in accounts receivable, net
$292.0K
Common stock issued as part of debt restructuring
$791.0K
Contribution from Hut 8 in connection with debt extinguishment
$30.4M
Right-of-use assets obtained in exchange for operating lease liabilities
$182.7M
Assets acquired net of liabilities assumed on completion of the Hut 8 Business Combination
American Bitcoin is part of a group headed by Hut 8. 11 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of American Bitcoin
Eric Trump Filed SCHEDULE 13D/A on American Bitcoin, latest Dec 22, 2025 (3 filings since Sep 10, 2025)
Anchorage Lending CA, LLCFiled SCHEDULE 13D/A on American Bitcoin, latest Sep 5, 2025 (3 filings since Oct 30, 2024)
Daniel George TolhurstFiled SCHEDULE 13G/A on American Bitcoin, latest Aug 14, 2025 (2 filings since Feb 22, 2024)
Roxy Capital CorpFiled SCHEDULE 13G/A on American Bitcoin, latest Jun 4, 2025 (2 filings since Feb 16, 2024)
AMERICAN BITCOIN INVESTMENTS LLC Subsidiary · Miami, Florida, United States
AMERICAN BITCOIN HOLDINGS LLC Subsidiary · Delaware, United States
AMERICAN BITCOIN OPERATING LLC Subsidiary · Delaware, United States
BEACON POINT DC 2 LLC Subsidiary · Miami, Florida, United States
BEACON POINT DC LLC Subsidiary · Miami, Florida, United States
HUT 8 DC LLC Subsidiary · Miami, Florida, United States
HUT 8 INFRASTRUCTURE LLC Subsidiary · Delaware, United States
HUT 8 MINING CORP. Subsidiary · Canada
U.S. Data Mining Group, Inc. Subsidiary · Miami, Florida, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What American Bitcoin reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
We do not own or lease any real property for our corporate offices. We currently operate out of facilities provided by Hut 8 at 1101 Brickell Avenue, Suite 1500, Miami, FL 33131. We believe that our office space is suitable for our current needs and, facilities, to the extent needed to meet future needs, may be obtained on commercially reasonable terms.
We use Hut 8's facilities for our Bitcoin mining operations pursuant to a MCSA, under which we generally pay a monthly fee for the use, operation, and maintenance of the relevant facility. Pursuant to an Exclusivity Agreement, Hut 8 is the exclusive provider of hosting and colocation services with respect to our digital asset mining equipment. See "Our Business—Material Agreements."
The rest of Item 2
We believe Hut 8's existing facilities are sufficient for our current needs and that, should it be needed, suitable additional or alternative facilities will be available from Hut 8 to accommodate our Bitcoin mining operations.
American Bitcoin was founded in March 2025 by Eric Trump, Donald Trump Jr., and shareholders of their former venture, American Data Centers. Plans for the venture emerged in late 2024 when Hut 8 executives met Eric Trump at the Trump National Golf Club in Jupiter, Florida. Between April and May 31, 2025, the company mined 215 bitcoin and reported it had raised $220 million by July 1, 2025 to fund mining equipment and a strategic bitcoin reserve. Matt Prusak was appointed as the company's first President in 2025.
On 12 May 2025, it was announced that public company Gryphon Digital Mining would merge with American Bitcoin in an all-stock transaction, with the new entity retaining the American Bitcoin name. Shares of Gryphon climbed 285% to $2.00 on the announcement. On September 3, 2025, American Bitcoin began trading on the Nasdaq Global Select Market after a merger with Gryphon Digital Mining.
American Bitcoin operates mining facilities supplied by Hut 8 in Niagara Falls, Medicine Hat, Alberta and Orla, Texas. As of May 31, 2025, the company operated over sixty thousand ASIC miners and held contractual rights to purchase an additional 17,280 Bitmain machines.
In a September 2025 SEC filing, the company reported holdings of 2,443 bitcoin, valued at approximately $269 million. According to an investor presentation American Bitcoin follows three lines of strategy: operate mining facilities, accumulate bitcoin through mining and open market purchases, and building related services.
Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
American Bitcoin Corp. /DE/Sep 5, 2025 to Sep 5, 20258
Gryphon Digital Mining, Inc.Feb 14, 2024 to Sep 3, 20258
Nov 13, 2024Reported quarterly or annual results67
Aug 14, 2024Reported quarterly or annual results68
May 14, 2024Reported quarterly or annual results69
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
446 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 126 major events, 114 insider forms, 14 large holders, 1 private raises, 170 other. The latest 20:
32 open-market trades by officers, directors and large owners since October 2021: 24 buys and 8 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
From the cover page of the 10-K filed Mar 27, 2026 (Section 12(b) of the Exchange Act).22
Risk factors and legal proceedings
The risks American Bitcoin names in Item 1A of its 10-K filed Mar 27, 2026: 60 risks under these headings, as written.22
Risks Related to Bitcoin
We presently, and we expect to continue to be, highly concentrated in Bitcoin. Bitcoin is a highly volatile asset and fluctuations in the price of Bitcoin have in the past influenced, and are likely to continue to influence, our business, financial condition, and results of operations and the value of our securities.
If we fail to grow our hashrate, we may be unable to compete and our business, financial condition, and results of operations could suffer.
We may be unable to purchase Bitcoin miners at scale or face delays or difficulty in obtaining new Bitcoin miners at scale.
We may be subject to additional risks associated with holding Bitcoin for our own account and with pledging our Bitcoin.
Our operations, investment strategies, and profitability may be adversely affected by competition from other methods of investing in Bitcoin.
The further development and acceptance of the Bitcoin network and other digital assets is subject to a variety of factors that are difficult to evaluate. The slowing or stopping of the development or acceptance of Bitcoin and other digital asset systems may adversely affect our business, financial condition, and results of operations.
Our reliance on third-party mining pool service providers, including Foundry and Luxor, for our mining revenue payouts may have a negative impact on our business, financial condition, and results of operations.
From time to time, we may enter into certain hedging transactions to generate income and partially offset volatility in Bitcoin prices, which may expose us to risks associated with such transactions.
The Bitcoin reward for successfully uncovering a block will halve several times in the future and Bitcoin’s value may not adjust to compensate us for the reduction in the rewards we receive from our mining efforts.
The development and acceptance of competing blockchain platforms or technologies may cause consumers to use alternative distributed ledgers or other alternatives.
The characteristics of Bitcoin have been, and may in the future continue to be, exploited to facilitate illegal activity such as fraud, money laundering, tax evasion, and ransomware scams. Furthermore, the exchanges on which Bitcoin trades are relatively new and, in most cases, largely unregulated and may therefore be more exposed to fraud and failure than established, regulated exchanges for other assets. Such circumstances may result in a reduction in the price of Bitcoin and can adversely affect our business, financial condition, and results of operations.
The other 49 risks
It may be illegal now, or in the future, to acquire, own, hold, sell, or use Bitcoin or other digital assets, participate in blockchains, or utilize similar digital assets in one or more countries.
A failure to properly monitor and upgrade the Bitcoin network’s protocol could damage that network and an investment in our securities.
There is a possibility of Bitcoin mining algorithms transitioning to "proof of stake" validation, which could make us less competitive and adversely affect our business, financial condition, and results of operations.
If a malicious actor or botnet obtains control of a majority of the processing power active on any digital asset network, including the Bitcoin network, the blockchain may be manipulated in a manner that adversely affects us.
Forks in the Bitcoin network may occur in the future, which may affect the value of Bitcoin held by us.
Banks and financial institutions may not provide banking services or may cut off services to businesses that provide digital asset-related services or that accept digital assets as payment.
Risks Related to Our Business and Operations
Our operations are dependent upon maintaining a good relationship with Hut 8.
We expect to raise significant amounts of additional capital to execute our strategy. We may be unable to raise the additional capital needed to operate and grow our business.
Failure of critical systems related to our operations could have a material adverse effect on our business, financial condition, and results of operations.
We may not be able to compete effectively against our current and future competitors.
We are subject to risks associated with our need for significant electrical power.
Our business may be heavily impacted by political, social, economic, and other events and circumstances in the United States, Canada, or elsewhere.
We may be exposed to cybersecurity threats and breaches.
We may face the risk of Internet-related disruptions.
Our success depends on key personnel whose continued service is not guaranteed.
We are an early-stage company with limited operating history.
New offerings or lines of business may subject us to additional risks.
The pace of technological change continues to accelerate and our ability to react effectively to such change may present significant competitive risks.
If we do not accurately predict our facility requirements or if Hut 8 fails to successfully develop and operate facilities at which we may host our miners, it could have a material adverse effect on our business, financial condition and results of operations.
We have incurred, and expect to continue to incur, significant costs in connection with the Mergers.
We may acquire other businesses and/or assets or form strategic alliances or joint ventures that could negatively affect our operating results, dilute shareholder ownership, increase debt, or cause us to incur significant expenses.
We operate in the United States and Canada and engage with third parties outside of the United States, and we may further expand our operations internationally, which may expose us to risks associated with doing business internationally.
Risks Related to Certain Regulations and Laws, Including Tax Laws
Our operations are subject to various complex legal, regulatory, governmental, and technological uncertainties.
The application of the CEA and the regulations promulgated thereunder by the CFTC to our business is unclear and is subject to change in a manner that is difficult to predict.
If regulatory changes or interpretations require our registration as a "money services business" under the regulations promulgated by FinCEN under the authority of the Bank Secrecy Act or otherwise under state laws, we may incur significant compliance costs.
Regulatory changes reclassifying Bitcoin as a security could lead to our classification as an "investment company" under the Investment Company Act of 1940 and could adversely affect the market price of Bitcoin and the market price of our listed securities.
Our interactions with a blockchain may expose us to specially designated nationals or blocked persons and new legislation or regulation could adversely impact our business or the market for digital assets.
We may be subject to substantial environmental or energy regulation and may be adversely affected by legislative or regulatory changes.
We may be involved in legal proceedings from time to time, which could adversely affect us.
Changes in tax laws or unanticipated tax liabilities could adversely affect our effective income tax rate and profitability.
Developments regarding the treatment of Bitcoin for applicable U.S. and Canadian federal, state, provincial, local, and other tax purposes could adversely impact our business.
Intellectual property rights claims may adversely affect the operation of some or all digital asset networks.
We may not protect our intellectual property rights and other proprietary rights effectively.
Our intellectual property may infringe claims of third-party intellectual property rights or other proprietary rights, which could adversely affect our business and profitability.
Risks Related to Ownership of Our Class A Common Stock
The market price of our Class A common stock may be volatile or may decline regardless of our operating performance.
Our multi-class capital structure concentrates voting control with Hut 8 and certain of our other principal shareholders, who have the ability to control the direction of our business and significantly influence all matters submitted to our stockholders for approval.
Our multi-class capital structure may adversely affect the trading market for our Class A common stock.
Hut 8’s interests may conflict with our interests and the interests of our other stockholders.
We rely on exemptions from certain Nasdaq corporate governance requirements for controlled companies.
Future sales and issuances of our Class A common stock or rights to purchase Class A common stock, including pursuant to the 2025 Plan, could result in dilution and could cause the market price of our Class A common stock to fall.
Sales of a substantial number of shares of Class A common stock or other securities by our stockholders could cause our Class A common stock price to fall.
If equity research analysts do not publish research or reports or publish unfavorable research or reports about us, our business, market, stock price, and trading volume could decline.
We incur, and will continue to incur, increased costs as a result of operating as a public company and our management team is required to devote substantial time to compliance initiatives.
The historical financial information of Historical ABTC presented herein may not be representative of its results or financial condition if Historical ABTC had been operated as a standalone public company and as a result may not be representative of our results or financial condition.
Our Charter includes a forum selection clause, which limits our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or other employees.
Anti-takeover provisions in our Charter and Bylaws, as well as provisions of Delaware law, could delay or prevent a change of control.
We do not expect to pay dividends on our Class A common stock and, consequently, your ability to achieve a return on your investment will depend on appreciation, if any, in the price of our Class A common stock.
Key members of our management team have limited experience managing a public company.
Our management will have broad discretion in the use of our cash and cash equivalents and may invest or spend these funds in ways with which you do not agree and in ways that may not increase the value of your investment.
Legal proceedings
For a description of material legal proceedings in which we are involved, see Note 15. Commitments and contingencies to our combined financial statements included elsewhere in this Annual Report, which is incorporated herein by reference.
We are not presently a party to any other legal or regulatory proceedings that in the opinion of our management, if determined adversely to us, would individually or taken together have a material adverse effect on our business, financial condition, or results of operations. However, we are subject to regulatory oversight by numerous federal, state, provincial, local, and other regulators and we are, and we may become, subject to various legal proceedings, inquiries, investigations, and demand letters that arise in the course of our business.
See "Risk Factors—Risks Related to Certain Regulations and Laws, Including Tax Laws—We may be involved in legal proceedings from time to time, which could adversely affect us."
