American Bitcoin Corp. Q1 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Company Context: American Bitcoin launched March 31, 2025 and went public on NASDAQ September 3, 2025. Focuses on Bitcoin accumulation via mining and treasury purchases. Key races: maximize Bitcoin holdings and achieve lowest cost per Bitcoin.

Key Operational Highlights (Q1 2026 vs Prior Periods)

  • Mined 817 Bitcoin in Q1 2026 (up from 783 in Q4 2025); represents ~33% of total Bitcoin mined since launch.
  • Monthly production: January 256 BTC, February 275 BTC, March 286 BTC (record high).
  • Owned fleet: ~90,000 miners and 28.1 EH/s capacity at quarter end (up from ~78,000 miners at Dec 31, 2025).
  • Drumheller site (Alberta) began energizing March 31; fully operational April 22, adding 3.05 EH/s from 11,298 new miners (13.5 J/TH efficiency).
  • Network difficulty declined ~10% QoQ due to miners shifting to AI workloads; positions ABTC favorably as a dedicated Bitcoin miner.
  • Cost to mine: ~$36,200 per Bitcoin (down 23% from ~$46,900 in Q4 2025).

Treasury & Accumulation Strategy

  • Strategic Bitcoin reserves: 7,021 BTC at March 31, 2026 (up from 5,401 at Dec 31, 2025); +1,620 BTC or ~30% growth in one quarter.
  • Growth sources: 817 BTC from mining + ~803 BTC via ATM equity purchases.
  • Satoshis per share (SPS): 663 at Q1 end (up ~20% from 554 at year-end); currently over 690. Share count grew ~9% while SPS rose 20%.

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Operator: Good afternoon, everyone, and thank you for joining. Today is American Bitcoin's First Quarter 2026 Earnings Call. Following today's prepared remarks, we will open the line for questions. As a reminder, this session is being recorded, and a transcript will be made available on abtc.com. I would now like to turn the call over to American Bitcoin's President and Interim Chief Financial Officer, Matt Prusak. Welcome, sir. Matthew Prusak: Thank you. Good afternoon, everyone, and thank you for joining us today. Before we begin, I would like to remind everyone that during this call, we will make forward-looking statements within the meaning of the federal securities laws. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially. For a detailed discussion of the risks and uncertainties that could cause actual results and events to differ, please refer to our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K for the fiscal year ended December 31, 2025, and the subsequent quarterly report on Form 10-Q. We undertake no obligation to update or revise forward-looking statements to reflect events or circumstances after the date of this call, except as required by law. During this call, we will also discuss certain non-GAAP financial measures, including adjusted EBITDA. A reconciliation of these measures to the most direct

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