Button mushroom (Agaricus bisporus) is cultured commercially and consumed worldwide for its unique flavor, texture, and culinary qualities. The objective of this study was to assess the textural profile together with the phenolic content and antioxidant, antibacterial, and elemental composition of wild and commercially cultivated A. bisporus from China. Of the six mushroom strains studied, both cultivated strains CCMJ1013 (fresh: 85.8 N/m2; stored: 57.9 N/m2) and CCMJ1343 (fresh: 94.7 N/m2; stored: 52.9 N/m2) recorded elevated hardness. Our results revealed that wild A. bisporus strain CCMJ1363 contained the highest phenolic content (7.840 mg gallic acid equivalents [GAE]/g), followed by CCMJ1361 (7.125 mg GAE/g) and CCMJ1351 (6.709 mg GAE/g). Antioxidant activity was elevated in CCMJ1351 (inhibition concentration at 50% inhibition [IC50] = 1.04 mg/mL) followed by CCMJ1361 (IC50 = 1.67 mg/mL) in the 1,1-diphenyl-2-picrylhydrazyl assay, whereas CCMJ1351 showed the maximum antioxidant activity (353.54 mg Trolox equivalents/g) in the ferric reducing antioxidant power assay. The maximum 2,2'-azobis(2-amidinopropane) di-hydrochloride-induced erythrocyte hemolysis inhibition was found in wild A. bisporus CCMJ1363 (86.09% inhibition) followed by CCMJ1351 (84.45% inhibition). In terms of antibacterial activity, only a wild A. bisporus strain (CCMJ1361) showed antibacterial activity against pathogenic bacteria (Bacillus coli and Staphylococcus aureus). Wild strain CCMJ1110 contained the highest level of zinc and magnesium; CCMJ1361 showed higher levels of calcium and iron, and CCMJ1363 contained a comparatively higher composition of nitrogen, sodium, and aluminum. Therefore, the current study lays a foundation for creating high-performance, culinary-quality, and stress-resistant germplasms in breeding for A. bisporus strains.