American Bitcoin mined a record 932 BTC in Q2 2026, grew its treasury 14% to 8,002 BTC, lifted mining revenue 8% to $67M, and narrowed its net loss to $57.2M.
Bitcoin Mining News
American Bitcoin reported its strongest quarterly mining output on record in Q2 2026, producing 932 Bitcoin (BTC) in the three months ending June 30. The result pushed the company's total BTC treasury up 14% to 8,002 coins, from 7,021 BTC held at the end of March. Mining revenue for the quarter reached $67 million, up 8% from $62.1 million in Q1.
The Nasdaq-listed company, co-founded by Eric Trump and Donald Trump Jr., operates as a majority-owned subsidiary of Hut 8. CEO Mike Ho said the company concentrated on what it could control operationally despite a difficult BTC price environment during the period. "We delivered our highest quarterly production on record, grew our strategic reserve to over 8,000 Bitcoin, and strengthened the foundation of our business," Ho said in a statement.
Net Loss Narrows as Unrealized Losses Weigh on Results
American Bitcoin posted a net loss of $57.2 million for Q2, down from an $81.8 million loss in Q1. The reduction was driven primarily by unrealized losses on the value of its BTC holdings rather than operational underperformance. Gross margin held near 50% for the quarter.
The cost to produce 1 BTC came in at approximately $36,500, nearly flat compared to $36,200 in Q1. Revenue per BTC mined declined roughly 5% quarter-over-quarter to around $71,900, reflecting softer coin prices during the period. Satoshis per share rose 11% to 10,989 even as the share count grew by about 3%.
Of the 8,002 BTC held as of June 30, approximately 3,090 tokens have been pledged as collateral under agreements with Bitmain for the purchase of mining equipment. The company's staking and treasury strategy mirrors a broader trend of miners treating their BTC holdings as a strategic balance-sheet asset rather than immediate revenue.
Fleet Expansion and a Reverse Stock Split
American Bitcoin ended Q2 with 89,242 owned miners, representing 28.1 exahashes per second (EH/s) of total installed capacity. Its active fleet totaled 58,999 machines producing 25 EH/s. That figure includes 11,298 next-generation miners energized in April at Hut 8's Drumheller site.
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The company completed a 1-for-15 reverse stock split in July 2026 after its shares fell below Nasdaq's minimum bid price requirement. The move was necessary to preserve its exchange listing. Shares of ABTC closed at $5.52 on Aug. 1, down 6.4%, ahead of the earnings release, and edged less than 0.5% higher in premarket trading on Aug. 3.
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