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American Bitcoin Corp
(NASDAQ:ABTC)
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Rating:53Neutral
Price Target:
$8.00
▼(-13.42% Downside)
Action:Reiterated
Date:09/19/26
The score is held back primarily by weak financial quality—large losses and substantial negative free cash flow despite strong revenue growth. Technicals are moderately supportive in the near term (above 20/50DMA with positive MACD), while valuation remains unattractive/unclear due to negative earnings and no dividend. Earnings call commentary was operationally positive (record production and reserve growth) but still overshadowed by continued GAAP losses and meaningful external headwinds.
Positive Factors
Record production and revenue growth
Record quarterly production and continued revenue growth indicate that the operating platform is expanding and converting fleet capacity into output. Growth driven by higher production and lower network difficulty supports stronger market presence and creates a foundation for scaling over the next several quarters.
Negative Factors
Severe and volatile profitability weakness
Large losses and unstable earnings reduce confidence that current operating growth will translate into durable shareholder returns. Negative operating margins also leave the company more exposed to changes in Bitcoin economics, accounting effects, and execution costs over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Record production and revenue growth
Record quarterly production and continued revenue growth indicate that the operating platform is expanding and converting fleet capacity into output. Growth driven by higher production and lower network difficulty supports stronger market presence and creates a foundation for scaling over the next several quarters.
Read all positive factors
American Bitcoin Corp (ABTC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$562.90M
Dividend YieldN/A
Average Volume (3M)1.46M
Price to Earnings (P/E)―
Beta (1Y)4.93
Revenue Growth2495.03%
EPS Growth86.92%
CountryUS
Employees2
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-2.86
Shares Outstanding24,004,726
10 Day Avg. Volume933,943
30 Day Avg. Volume1,463,068
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 Cap1.63
Enterprise Value/Revenue3.38
Enterprise Value/Gross Profit7.17
Enterprise Value/Ebitda-8.55
Forecast
1Y Price Target
$17.67Price Target Upside91.20% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-2.02
Revenue Forecast (FY)$284.96M
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:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 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 | 127.84M | 93.16M | 32.03M | 21.37M | 23.31M | 5.02M |
| EBITDA | -107.33M | -113.05M | 519.59M | 44.03M | -80.00M | -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 | 76.20M | 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 Technical Analysis
Negative
9.24
Price Trends
8.12
Negative
9.21
Negative
14.00
Negative
Market Momentum
-0.10
Positive
46.07
Neutral
17.16
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 9.24 is above the 20-day moving average (MA) of 8.80, above the 50-day MA of 8.12, and below the 200-day MA of 14.00, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 46.07 is Neutral, neither overbought nor oversold. The STOCH value of 17.16 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $5.79B | 19.39 | 24.74% | 1.88% | 3.65% | 42.71% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
60 Neutral | $6.34B | -4.59 | -48.36% | 12.20% | 24.51% | -842.33% | |
55 Neutral | $465.22M | -1.50 | -46.72% | ― | 23.36% | -150.86% | |
53 Neutral | $562.90M | -2.71 | -29.89% | ― | 2495.03% | 86.92% | |
52 Neutral | $5.61B | -4.71 | -156.28% | ― | 20.30% | -525.74% | |
51 Neutral | $3.73B | -1.03 | -110.39% | ― | 0.73% | -642.27% |
* Financial Sector Average
ABTC
American Bitcoin Corp
8.09
-82.36
-91.06%
RIOT
Riot Platforms
16.47
-5.23
-24.10%
MKTX
Marketaxess Holdings
164.53
-5.09
-3.00%
MARA
MARA Holdings
9.44
-10.80
-53.36%
BTBT
Bit Digital
1.24
-2.76
-69.00%
CIFR
Cipher Digital
13.00
-7.34
-36.09%
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...
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.