American Bitcoin Corp. (ABTC) achieved its strongest quarterly mining performance to date, producing approximately 932 BTC during the second quarter while increasing its Bitcoin reserve to about 8,002 BTC as of June 30.
The company reported a net loss of $57.2 million, improving from the $81.8 million loss recorded in the first quarter. Results were affected by a $71.2 million noncash impairment on digital assets, which contributed to an operating loss of $74.1 million as Bitcoin declined roughly 12 percent during the quarter. Earlier this year, the company posted a record first quarter output of 817 BTC.
Bitcoin Holdings Continue to Grow
Eric Trump, Co Founder and Chief Strategy Officer, announced on X that American Bitcoin’s reserve had climbed to around 8,300 BTC by August 3, making it the world’s 16th largest publicly traded Bitcoin holding company.
American Bitcoin has been listed on the Nasdaq since September 2025 following its merger with Gryphon Digital Mining.
In the company’s earnings statement, Trump reaffirmed confidence in Bitcoin, saying the firm’s long term objective is to deliver consistent growth each quarter while building a leading Bitcoin focused company in the United States.
By the end of the quarter, American Bitcoin owned 89,242 mining machines with a total capacity of 28.1 EH/s. This included 11,298 Bitmain miners deployed at Hut 8’s Drumheller facility, adding 3.05 EH/s after becoming fully operational in April. The company’s active mining fleet consisted of 58,999 miners with 25 EH/s of computing power.
Based on Bitcoin’s June 30 price of $59,847, the company’s holdings were valued at approximately $478.9 million.
Revenue Increases Despite Lower Bitcoin Prices
Mining revenue rose to $67 million during the second quarter, an increase of about 8 percent from $62.1 million in the previous quarter.
Average revenue earned per Bitcoin mined declined around 5 percent to roughly $71,900, while the cost of mining each Bitcoin remained relatively stable at about $36,500 despite slightly higher electricity costs at selected sites. General and administrative expenses totaled $7.7 million, representing nearly 11 percent of total revenue.
On July 2, American Bitcoin completed a one for fifteen reverse stock split, reducing its outstanding shares from more than 1.09 billion to roughly 73 million. Split adjusted trading resumed on the Nasdaq Capital Market on July 6 under the same ticker symbol.
The company said the reverse split was primarily intended to increase its share price and ensure continued compliance with Nasdaq’s minimum bid price requirement. Shareholders approved the measure during the annual meeting held on June 22.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
