American Bitcoin Corp. Class A Common Stock (ABTC)

FairStock Score: 49/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Measured against Graham's standards, this is not a business I can underwrite with confidence. American Bitcoin Corp. mines Bitcoin and accumulates a reserve, a commodity-like activity with no evident moat. Revenue has grown: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $67.0M, up from $30.3M in fiscal Q2 2025, the quarter ended 2025-06-30. But profit is another matter. Fiscal Q2 2026 produced a net loss of $57.2M and diluted EPS of -$0.80; fiscal Q1 2026, ended 2026-03-31, had revenue of $62.1M and a net loss of $81.8M. For full FY2025, ended 2025-12-31, revenue was $185.2M and net loss was $153.2M, after FY2024 net income of $428.9M and FY2023 net income of $39.6M. That swing explains FairStock's TURNAROUND label: loss in the latest year after earlier profits. At the 2026-10-13 close of $8.66, FairStock shows P/B 0.94, so the market values it near book, but P/E is -3.23 and EPS is -$2.68; there is no earnings support. ROE is -38.53% and ROCE -20.63%, signs of capital destruction. D/E of 0.31 is not extreme, but leverage plus Bitcoin price exposure can amplify losses. The 2-employee structure and parent Hut 8 relationship may provide operational support, yet neither creates durable pricing power. FairStock Score is 49/100 and Piotroski 4/9, middling at best. For a financial-sector name I would want CET1, net interest margin or a combined ratio; those are not in the data. Growth is real, but consistency is not.

In plain English: American Bitcoin Corp. runs Bitcoin mining machines and holds Bitcoin. The business is not strong right now: it lost money in its latest quarter and latest full year, and profits have swung a lot. At $8.66 on 2026-10-13, the price is near the value of what the company owns minus what it owes, so it does not look clearly cheap or expensive, but the losses make it risky.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer