ABTC’s revenue from mining rose 8% to $67 million, and gross margins were roughly 50%, even as Bitcoin prices slipped during the quarter.
- American Bitcoin mined a record 932 BTC in the second quarter, and increased its Bitcoin reserve to 8,002 BTC.
- The Eric Trump-backed miner cut its net loss to $57.2 million and adjusted EBITDA to negative $45 million.
- American Bitcoin expanded its fleet to over 89,000 miners and 28.1 EH/s of capacity, continuing its infrastructure growth strategy to grow Bitcoin per share.
The Eric Trump co-founded firm, American Bitcoin Corp (ABTC), mined 932 Bitcoin (BTC) in the second quarter of 2026, with its strategic reserve growing by 14%, the company said on Monday ahead of its earnings call.
Total holdings of the firm increased by 981 BTC from roughly 7,021 at the end of the first quarter (Q1), with the majority coming from mining output. Currently, the firm holds 8,002 BTC. The Bitcoin mined represents roughly 26% of all Bitcoin the majority-owned Hut 8 (HUT) subsidiary has mined since launching in March of last year, according to the company.
Mining revenue was $67 million, an increase of about 8% versus $62.1 million in Q1. Revenue per Bitcoin mined was $71,900, down about 5% from $76,000 in the first quarter, but held up better than the roughly 12% decline in Bitcoin's price over the same period. Gross margins stayed around 50% even with the price decline. Of the 8,002 BTC, 3,090 BTC have been committed to miner purchases in BITMAIN contracts, said the firm.
The company also had a net loss of $57.2 million in the second quarter, compared with a loss of more than $81 million in the first quarter. Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) improved to negative $45 million from negative $91.3 million in Q1.
The results were well below Wall Street expectations. Analysts had forecast EBITDA of $113.8 million and normalized earnings of $0.30 per share, according to Koyfin data.
ABTC stock was down by over 3% during morning trade. On Stocktwits, retail sentiment around ABTC remained in the ‘bullish’ zone, while chatter around it stayed at ‘extremely low’ levels over the past day.
Bitcoin Per Share Focus
CEO Mike Ho said the company was focused on compounding Bitcoin per share through scaled mining infrastructure rather than simply holding the asset on its balance sheet. "Looking ahead, we are focused on deepening that infrastructure advantage, strengthening our balance sheet position, and compounding Bitcoin per share so that the work we do today translates into durable value for our shareholders across market cycles," Ho said.
Co-Founder and Chief Strategy Officer Eric Trump said the company's goal was to "deliver relentless growth, quarter after quarter, and build the preeminent American Bitcoin powerhouse for the long haul."
Fleet Expansion
The company now owns a total fleet of 89,242 miners. The cost to mine each Bitcoin held roughly flat at around $36,500, despite a 12% decline in Bitcoin's price during the quarter.
Bitcoin's price was trading around $63,134 at the time of writing. On Stocktwits, retail sentiment around Bitcoin remained in the 'bearish' zone, while chatter stayed at 'low' levels over the past day.
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