# American Bitcoin Corp (ABTC)

> Source: Nexqual · https://nexqual.com/ABTC · data as of 2026-10-26 20:00 UTC · cite as "Nexqual, American Bitcoin Corp (ABTC), nexqual.com/ABTC" · informational, not investment advice.

**Price:** USD 7.26 (-3.33% on the day) · last close of Oct 26, 2026; US market pre market, not a live price. Prev close 7.51 · day 7.06–7.54 · 52w 4.92–92.1 · market cap $529M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $272M, net income -$195M (-71.7% margin) (SEC filings).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $2.3M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.75 on a 1–5 scale) (4 analysts), mean target USD 16.75 (range 14–22).
- Total return with dividends: 1Y -91.9% vs S&P 500 +12.9%; 5Y -100.0% vs S&P 500 +78.2%.
- Next earnings: 2026-11-04, EPS estimate USD 0.27, revenue estimate $74.3M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $17.6M | $10.5M | $65.0M | $71.5M | $185M | $272M |
| Gross profit | $10.2M | $5.5M | $3.4M | $32.0M | $93.2M | — |
| Operating income | -$33.1M | -$43.1M | $6.2M | $484M | -$228M | -$290M |
| Net income | -$31.3M | -$79.1M | $39.6M | $429M | -$153M | -$195M |
| EPS (diluted) | -$36600.00 | -$40992.00 | $0.60 | $7.35 | -$2.55 | — |
| Free cash flow | -$8.2M | -$10.9M | -$57.9M | -$60.6M | — | — |
| Gross margin | 57.8% | 53.0% | 5.3% | 44.8% | 50.3% | — |
| Operating margin | -187.8% | -412.0% | 9.6% | 676.7% | -123.1% | -106.6% |
| Net margin | -177.7% | -755.9% | 61.0% | 599.6% | -82.7% | -71.7% |
| Revenue growth | — | -40.7% | +521.3% | +10.1% | +158.8% | — |
| Cash + short-term investments | $12.6M | $502K | $1.3M | $850K | — | — |
| Total debt | $17.3M | $14.6M | $20.0M | $5.4M | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.9x · P/B 0.8x · Earnings yield -36.87%
P/E at fiscal year-ends: Dec 2024 4.2x, Dec 2023 979.3x.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $2.3M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-05…2026-08-06 | Mateen Justin | Director | 306,981 | $1.9M | 6.29 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-15 | Busch Richard | Director | 450,000 | $392K | 0.87 | Too little history (no open-market trades in 2023 or 2024) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.75 on a 1–5 scale), 4 analysts; mean target USD 16.75 (low 14, high 22).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Maxim Group | Target raised | Buy | $15 → $16 |
| 2026-09-16 | BTIG | Initiated | Buy | $15 |
| 2026-07-21 | Maxim Group | Initiated | Buy | $15 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-27) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -91.9% | -100.0% |
| S&P 500 (SPY) | +12.9% | +78.2% |
| Per year | -92.0% | -84.5% |
| Volatility (annualized) | 105.1% | 130.4% |
| Max drawdown | -94.2% (Oct 2025→Jul 2026) | -100.0% (Nov 2021→Jul 2026) |

## Peers (Capital Markets)
MIAX (Miami International Holdings, I) USD 33.16 -2.41% · LAZ (Lazard, Inc.) USD 37.7 +1.32% · MC (Moelis & Company) USD 55.25 +1.32% · PIPR (Piper Sandler Companies) USD 64.97 +0.53% · RIOT (Riot Platforms, Inc.) USD 12.59 +0.48% · FIGR (Figure Technology Solutions, In) USD 21.91 -5.52%

## More
Full page: https://nexqual.com/ABTC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name ABTC in their own reports (relationship from ABTC's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Dominari Holdings Inc. (DOMH) | 10-K 2026-03-31 | "merger agreement with American Bitcoin Corp. to form a combined company that would operate under the brand American Bitcoin and be led" |
| partner | Hut 8 Corp. (HUT) | 10-K 2026-02-25 | "American Bitcoin anchors this approach under long-term commercial agreements pursuant to which we are its exclusive infrastructure development and operating partner." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.27 | $0.00 | — | $74.3M | 2 |
| Next quarter (ends 2026-12-31) | $0.10 | $0.00 | — | $84.3M | 2 |
| Current fiscal year (ends 2026-12-31) | $-0.14 | $0.00 | — | $287.8M | 2 |
| Next fiscal year (ends 2027-12-31) | $0.89 | $0.00 | — | $378.0M | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-04): ±19.0%; earnings reaction alone ±13.7%; last 8 reports averaged ±6.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 3 | 106.6% | ±9.3% |
| 2026-11-06 | 10 | 137.5% | ±19.0% |
| 2026-11-13 | 17 | 121.7% | ±21.4% |
| 2026-11-20 | 24 | 111.8% | ±23.1% |
| 2026-11-27 | 31 | 109.5% | ±25.6% |
| 2026-12-18 | 52 | 103.0% | ±31.8% |
| 2027-01-15 | 80 | 99.3% | ±37.6% |
| 2027-03-19 | 143 | 105.4% | ±52.1% |