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Hut 8 Reports $71.01 Million Q1 2026 Revenue as Net Loss Widens

According to the company and BitcoinTreasuries.NET, American Bitcoin’s holdings rose from 7,021 BTC at quarter-end to 7,300 BTC, while the Trump family-backed miner posted a wider Q1 2026 net loss.

BTC

Fact Check
All key figures in the claim are corroborated by primary and credible secondary sources. Hut 8's $71.01 million Q1 2026 revenue is confirmed by Benzinga and KuCoin news reports, and Hut 8's official @Hut8Corp X post confirms Q1 2026 results were released on May 6, 2026. American Bitcoin's ~$82 million net loss ($81.8 million precisely) is confirmed by The Block citing the company's SEC filing (EX-99.1), which is also directly accessible. The ~20% revenue decline is accurate: mining revenue fell from $78.3 million in Q4 2025 to $62.1 million in Q1 2026, a 20.7% drop. The claim that Bitcoin holdings increased is confirmed: American Bitcoin grew its holdings to 7,021 BTC despite Bitcoin's 22% price decline during the quarter. The only minor imprecision is that the claim rounds $81.8 million to 'about $82 million,' which is a reasonable approximation. The claim accurately characterizes both companies' Q1 2026 financial results.
Summary

American Bitcoin, a Trump family-linked Bitcoin miner, reported a Q1 2026 net loss of about $81.79 million as Hut 8 reported $71.01 million in quarterly revenue. The company said its Bitcoin holdings rose 30% quarter over quarter to 7,021 BTC and later increased to 7,300 BTC after adding 300 BTC. BitcoinTreasuries.NET said the company now ranks 16th among corporate Bitcoin holders. Earlier reporting also cited a $117.2 million impact from digital asset volatility, mining revenue of $62.1 million versus $78.3 million a year earlier, 817 BTC mined and 803 BTC purchased during the quarter, and a separate Bloomberg figure of about 1,600 BTC that remains inconsistent with the company’s stated treasury size.

Terms & Concepts
  • BTC: The ticker symbol for Bitcoin, used to denote the amount of Bitcoin mined, purchased, or held by a company.
  • BitcoinTreasuries.NET: A tracking site that monitors corporate and institutional Bitcoin reserves.
  • Digital asset volatility: Price swings in cryptocurrencies or related holdings that can significantly affect a company’s earnings and asset valuations.