Industry peers like MARA and Riot are shifting strategies, partially converting sites to AI infrastructure or selling reserves to bolster liquidity during the downturn.

American Bitcoin Corp (ABTC) posted a Q4 net loss of $59.45 million, reversing the prior year’s $3.48 million profit as Bitcoin’s price fell about 23% in Q4 2025.

Q4 revenue reached $78.3 million, up 22% from Q3 but slightly short of the $79.6 million consensus.

The downturn is part of a wider trend affecting Trump-affiliated crypto ventures, with declines across tokens and investor interest.

CEO Mike Ho said ABTC will optimize its fleet, add capacity where returns justify, and focus on growing Bitcoin holdings and balance-sheet flexibility.

ABTC completed an at-the-market financing round that raised $150.5 million to support working capital, mining expansion, and reserve accumulation.

Eric Trump referenced the plan to merge modern digital finance with tangible assets, noting potential board involvement with traditional crypto exchanges.

Cipher Mining and TeraWulf are also adjusting to market stress by reallocating assets and pursuing liquidity.

ABTC maintained roughly 25 exahash per second of capacity using about 78,000 ASICs, with fleet efficiency near 16.3 joules per terahash as of year-end, operating in partnership with Hut 8.

Hut 8 remains the majority owner and provider of ABTC’s mining infrastructure, with Hut 8 reporting results separately and signaling stock movements alongside peers.

Related activity in the sector includes STS Digital raising $30 million to expand its options trading platform, reflecting broader crypto-derivatives activity.

Sustained pressure on crypto treasury firms could hinder their ability to raise additional capital for large-scale mining.