American Bitcoin Corp. ABTC

Information TechnologyFinancial Technology (Fintech) & InfrastructureUnited States of America

Last close 6.61 USD on Nov 3, 2026, −74.1% year to date

Quant rating

Quant rating D Rank 328 of 389 in Information Technology

Growth C 169 of 389
Valuation D 317 of 389
Quality D 332 of 389
Revisions B 154 of 389
Momentum D 361 of 389

Wall Street consensus Buy (1.75)Average target 16.75 USD +153.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 481M
Enterprise value: 462M
52-week range: 4.94 – 80.33
3-year range: 4.94 – 735.00
Dividend yield: –
Beta (5 years): 4.09
Shares outstanding: 72.8M
Next earnings: Nov 4, 2026

About the company

American Bitcoin Corp., formerly Gryphon Digital Mining, Inc., is a Bitcoin accumulation company. The Company's operations include bitcoin mining sites, bitcoin mining pools, and protection of bitcoin assets. The Company operates Bitcoin Miners at four sites under Master Colocation Services Agreement (MCSA): Alpha (Niagara Falls, NY); Salt Creek (Orla, TX); Medicine Hat (Medicine Hat, AB), and Vega (Texas Panhandle). It receives Bitcoin mining rewards from its mining activity through third-party mining pool operators, Foundry and Luxor. Mining pools allow Bitcoin miners to combine their processing power, increasing their chances of solving a block and getting paid by the network. It provides computing power to mining pools, which use this computing power to operate nodes and validate blocks on the blockchain. It uses third-party custody solutions, including Coinbase Custody and Anchorage Digital Bank N.A., to safeguard its Bitcoin, mainly in cold storage wallets.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	185	20.5	6.8	13.6	17.6	–
Revenue growth	801.5%	200.4%	−49.9%	−22.6%	125.3%	88.3%
EPS (basic, normalized)	−2.55	−49.50	–	−43,065.00	−39,300.00	–
EPS growth	–	–	–	–	–	–
Gross margin	50.3%	23.0%	50.2%	60.3%	57.8%	48.3%
Net margin	−82.7%	−103.7%	−125.8%	−436.6%	−176.3%	−185.0%
ROE	−46.5%	–	–	−212.7%	−52.9%	−104.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	18.9
Current ratio	0.19x
Long-term debt (mil)	0
Net debt (mil)	−18.9
Total equity (mil)	672
Net debt / equity	−0.03x
Net debt / EBITDA	0.12x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	185	+801.5%	2.5x	−157	–	−2.9x	−2.55	+94.8%	−2.6x
2026	288	+55.5%	1.6x	−75.8	+51.8%	−6.1x	−1.88	+26.3%	−3.5x
2027	378	+31.3%	1.2x	179	+336.8%	2.6x	0.08	+104.1%	86.2x
2028	277	−26.6%	1.7x	103	−42.7%	4.5x	−0.20	−360.9%	−33.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	288	+3.4%	−1.9%	−11.8%	−1.88	+2.4%	−100.0%	−935.6%
2027	378	+12.6%	+27.2%	−23.1%	0.08	+227.8%	−23.3%	−74.4%
2028	277	+27.7%	+27.7%	−41.6%	−0.20	+57.4%	+57.4%	+81.0%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	Jun 2024	Sep 2024	Dec 2024	FQ-5	FQ-4	FQ-3	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	5.5	3.7	3.8	–	–	64.2	78.3	62.1	67.0
Sales mean (mil)	–	5.5	3.9	3.9	–	–	–	79.6	74.8	70.7
Surprise	–	+0.3%	−5.4%	−1.4%	–	–	–	−1.7%	−17.0%	−5.1%
EPS reported	–	−7.50	−11.25	−12.75	–	–	–	−1.05	−1.20	−0.80
EPS mean	–	−13.50	−12.00	−12.00	–	–	0.00	0.23	0.07	0.00
Surprise	–	+44.4%	+6.2%	−6.2%	–	–	–	−566.7%	−1,700.0%	–

Peer comparison Financial Technology (Fintech) & Infrastructure

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ABTC American Bitcoin Corp.	481M	0.12x	−82.7%	0.72x	−3.5x	86.2x	−6.1x	2.6x
IREN IREN Limited	9.9B	7.90x	−99.4%	2.22x	−14.6x	−113.8x	6.7x	2.2x
HUT Hut 8 Corp	7.8B	−57.01x	−96.2%	5.44x	−12.3x	−18.4x	−64.1x	41.3x
WULF TeraWulf Inc.	6.3B	−111.71x	−392.6%	42.45x	−4.4x	−53.9x	156.7x	16.3x
RIOT Riot Platforms, Inc.	5.3B	28.69x	−102.4%	2.42x	−5.1x	−10.4x	−20.8x	27.1x
CORZ Core Scientific Inc	4.6B	−85.27x	−88.0%	−1.88x	−3.1x	58.2x	31.9x	11.2x
Mean		−36.21x	−143.6%	8.56x	−7.2x	−8.7x	17.4x	16.8x
Median		−28.44x	−97.8%	2.32x	−4.8x	−14.4x	0.3x	13.8x

Technical analysis

1M−22.3%
3M+13.0%
1Y−91.0%
3Y−98.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, American Bitcoin Corp., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	185	20.5	6.8	13.6	17.6	7.8
Cost of revenue	92.0	15.8	3.4	5.4	7.4	3.1
Gross profit	93.2	4.7	3.4	8.2	10.2	4.7
Selling, general & administrative expenses	33.4	12.9	8.0	13.9	17.9	8.4
Research & development	–	–	2.3	4.7	5.9	3.2
Depreciation/amortization	58.2	11.2	0	5.6	5.2	2.0
Interest expense (income), operating	227	−1.6	–	–	–	–
Unusual expense (income)	2.5	0.4	0	39.5	12.1	6.9
Other operating expenses	0	0	0	0	0	0
Operating income	−228	−18.1	−6.9	−55.4	−30.9	−15.7
Net interest income (expense)	56.3	−3.0	−1.1	−0.8	−1.3	−1.2
Gain (loss) on sale of assets	–	−0.1	–	–	–	–
Other non-operating income (expense)	0.4	0	−0.6	−3.1	−1.2	−0.1
Net income before taxes	−171	−21.3	−8.6	−59.3	−33.3	−17.0
Provision for taxes	−18.1	0	0	−0.7	−2.3	0
Minority interest	–	–	–	–	–	0
Equity in affiliates	–	–	–	0	0	0
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−153	−21.3	−8.6	−58.6	−31.1	−17.0
Extraordinary items	0	–	−3.0	−20.4	−0.2	–
Net income	−153	−21.3	−11.6	−79.1	−31.3	−17.0
EBIT, normalized	9.4	−19.3	−5.5	−14.8	−15.6	−7.1
EBITDA, normalized	67.6	−8.1	−4.6	−7.0	−9.9	−5.1
Basic EPS, normalized	−2.55	−49.50	–	−43,065.00	−39,300.00	–

Balance sheet in millions of USD, fiscal years

Balance sheet, American Bitcoin Corp., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	4.6	1.9	0.8	0.9	13.9	17.8
Receivables	2.1	–	0.5	1.2	1.9	2.4
Total inventory	–	–	–	–	–	–
Prepaid expenses	2.2	0.4	0	0.6	1.5	1.8
Other current assets	0	0	0	12.2	0.9	0.6
Total current assets	8.9	2.3	1.3	14.9	18.2	22.6
Property, plant & equipment	508	3.0	0	0	0.2	1.2
Goodwill	154	–	–	1.7	46.9	41.9
Intangibles	1.0	0.1	–	2.8	28.9	11.3
Long-term investments	473	–	–	0	0.2	0.2
Note receivable	–	–	–	–	–	–
Other long-term assets	101	2.3	0	0	0	0
Total assets	1,247	7.6	1.4	19.5	94.5	77.2
Liabilities
Accounts payable	2.0	5.5	2.2	1.5	1.9	0.5
Payable/accrued	–	–	–	–	–	–
Accrued expenses	55.4	3.5	2.4	2.0	3.4	2.7
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	0.2	5.1	13.2	13.2	11.7
Other current liabilities	54.2	0	0.6	6.0	10.6	0.8
Total current liabilities	112	9.3	10.4	22.7	29.2	15.7
Long-term debt	0	5.4	0	1.4	4.1	3.9
Minority interest	–	–	–	–	–	0
Other liabilities	469	0	0	0.2	1.3	0
Total liabilities	581	14.6	10.4	24.3	34.5	19.6
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.1	0	0	0	0	0
Additional paid-in capital	718	60.0	165	160	146	95.1
Retained earnings (accumulated deficit)	−52.5	−67.7	−179	−168	−88.5	−57.9
Treasury stock	–	–	–	–	–	–
Other equity	0	0.7	5.5	2.5	2.4	20.3
Total equity	666	−7.0	−9.0	−4.8	59.9	57.5
Total liabilities & shareholders' equity	1,247	7.6	1.4	19.5	94.5	77.2

Cash flow statement in millions of USD, fiscal years

Cash flow statement, American Bitcoin Corp., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−153	−21.3	−11.6	−79.1	−31.3	−17.0
Depreciation, depletion & amortization	58.2	11.2	0.9	7.8	5.7	2.0
Deferred taxes	−25.2	–	–	−0.7	−2.3	–
Non-cash items	11.5	−17.4	3.7	63.0	18.3	8.5
Changes in working capital	29.1	24.1	1.1	−2.0	1.4	−2.2
Cash from operations	−79.6	−3.4	−5.9	−10.9	−8.2	−8.7
Investing activities
Capital expenditures	−405	−1.1	–	−4.4	−5.5	−1.9
Other investing cash flows	6.9	−1.7	1.2	0.4	−5.0	−5.3
Cash from investing	−398	−2.7	1.2	−4.0	−10.5	−7.1
Financing activities
Financing cash flow items	38.7	3.4	0	0	−0.5	−1.0
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	443	2.6	−2.8	8.6	15.3	10.5
Cash from financing	482	6.0	−2.8	8.6	14.7	9.5
Foreign exchange effects	–	–	0	0	0	0
Net change in cash	3.8	−0.2	−7.4	−6.3	−3.9	−6.3
Free cash flow	−485	−4.5	−5.9	−15.3	−13.6	−10.6

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.