American Bitcoin Corp. receives BTIG ‘Buy’ rating and $15 price target

BTIG has initiated coverage of American Bitcoin Corp. (NASDAQ: ABTC) with a ‘Buy’ rating and a $15 price target, representing approximately 88% upside from its recent trading levels near $8.

The company has significantly expanded its Bitcoin treasury, reporting approximately 8,002 BTC as of June 30. This represents a 14% increase from the previous quarter. American Bitcoin’s production also reached a quarterly high in the second quarter, mining 932 BTC, up from 817 BTC in the prior period.

Established in March 2025 as a subsidiary of the Canadian-listed firm Hut 8, American Bitcoin operates a two-pronged business model: mining Bitcoin and accumulating the asset in its treasury. The company’s operations span the United States and Canada, with a reported hash rate of roughly 28 EH/s, accounting for approximately 3% of the global Bitcoin hash rate.

Despite the positive analyst outlook, the company faces financial challenges. SEC filings indicate a net loss of $138.94 million and cash usage of $63.79 million in the second quarter of 2026. Risk factors cited include Bitcoin price volatility, hash rate expansion failures, and delays in equipment procurement.