American Bitcoin said it mined a record 932 BTC in the second quarter of 2026, while mining revenue rose to $67.0 million from $62.1 million in the prior quarter. The company also said its Bitcoin reserve had grown to roughly 8,300 BTC as of August 3, according to a post on X by co-founder and chief strategy officer Eric Trump.

Despite the stronger production, American Bitcoin still reported a net loss of $57.2 million for the quarter. That was an improvement from the $81.8 million loss posted in the first quarter, but results were weighed down by a $71.2 million non-cash loss on digital assets during a period when Bitcoin fell about 12% over the quarter.

Quarterly production and revenue increase

The company described the April-to-June period as its strongest quarter of Bitcoin production so far. Output reached 932 BTC, above the previous quarter's level, while mining revenue increased by about 8% quarter over quarter to $67.0 million.

Revenue per Bitcoin mined declined roughly 5% to about $71,900. At the same time, the cost to mine each Bitcoin was nearly unchanged at around $36,500, which the company attributed to marginally higher energy costs at selected sites.

Losses narrow but asset revaluation weighs on results

American Bitcoin's net loss narrowed to $57.2 million from $81.8 million in the first quarter. The company said a $71.2 million non-cash loss on digital assets was recorded through operating expenses, contributing to an operating loss of $74.1 million.

In comments tied to the earnings release, Trump said gross margins had remained above roughly 49% each quarter since launch, while selling, general and administrative expense was about $7.7 million, or close to 11% of revenue in the second quarter.

Reserve approaches 8,300 BTC

Trump said on August 3 that American Bitcoin's reserve had risen to about 8,300 BTC. In the quarterly report, the company valued its Bitcoin holdings at approximately $478.9 million based on a June 30 Bitcoin price of $59,847.

In the same social media post, Trump said the company was the 16th largest publicly traded Bitcoin company in the world. In the earnings release, he said the firm's objective was to keep expanding its Bitcoin business over the long term.

Fleet scale and recent corporate actions

At quarter-end, American Bitcoin said its owned fleet totaled about 89,242 miners with 28.1 EH/s of capacity. Its operational fleet consisted of 58,999 miners running at 25.0 EH/s.

The company said 11,298 Bitmain units, adding 3.05 EH/s at Hut 8's Drumheller site, were fully energized in April. American Bitcoin has traded on Nasdaq since debuting in September 2025 through a stock merger with Gryphon Digital Mining.

Separately, the company carried out a 1-for-15 reverse stock split on July 2, reducing shares outstanding from 1,092,295,800 to roughly 73 million. Split-adjusted trading resumed on the Nasdaq Capital Market on July 6 under the same ticker after shareholders approved the move on June 22. The company said the measure was primarily meant to lift the per-share price and maintain compliance with Nasdaq's minimum bid requirement.

Source: cryptopotato.com