American Bitcoin reported $57.2M Q2 loss despite 14% growth in BTC holdings to 8,002 coins and $67M mining revenue.
Macro & Markets ·
American Bitcoin completed its strongest quarter for mining output in the second quarter of 2026, extracting 932 BTC while its total reserve reached approximately 8,300 BTC valued near $478.9 million, according to reporting from CryptoPotato. Mining revenue climbed to $67 million, marking an 8% increase from the prior quarter, though the company posted a $57.2 million net loss—an improvement from the $81.8 million loss in Q1. A $71.2 million non-cash charge against digital assets significantly impacted the quarter's results as Bitcoin prices declined roughly 12% during the period.
The company's operational capacity comprised an owned fleet of approximately 89,242 miners generating 28.1 exahashes per second, with an additional 11,298 Bitmain units at Hut 8's Drumheller facility brought fully online in April. Mining costs per Bitcoin held relatively steady at around $36,500, while revenue per coin mined decreased approximately 5% to $71,900. General and administrative spending represented roughly 11% of quarterly revenue at $7.7 million.
On July 2, American Bitcoin executed a 1-for-15 reverse stock split, consolidating share count from over 1 billion shares to roughly 73 million. The action was designed to support the share price and satisfy Nasdaq's minimum bid requirements, with shareholders approving the measure in June.