American Bitcoin mines record 932 BTC as treasury tops 8,000 coins

American Bitcoin produced a record 932 Bitcoin in Q2, lifting its treasury to 8,002 coins despite a $57.2 million net loss.

The Nasdaq-listed miner, majority owned by Hut 8, reported the results Monday, with the loss narrowing from an $81.8 million deficit in the first quarter. It held about 8,002 Bitcoin as of June 30, up 14 percent on the quarter, with a further 3,090 coins pledged under equipment agreements with rig maker Bitmain, according to the earnings release.

Mining revenue rose 8 percent to $67 million from $62.1 million, while the first half of 2026 sits more than $139 million in the red. American Bitcoin completed a 1-for-15 reverse stock split last month to keep its Nasdaq listing after shares fell below the exchange's minimum bid requirement. ABTC closed down 6.4 percent Friday at $5.52 and edged up less than 0.5 percent in premarket trading Monday.

The mine-and-hold approach places American Bitcoin in a fast-growing group of companies that treat Bitcoin less as a product to sell than as a reserve to accumulate. It ranks about 16th among corporate Bitcoin holders tracked by Bitcoin Treasuries, and its buying comes as Bitcoin trades near $62,820, down 1 percent in 24 hours, with a market cap of about $2.23 trillion and a 56.4 percent dominance share as of 14:30 UTC.

A Family Bet on Bitcoin

American Bitcoin was created in March 2025 by Eric Trump and Donald Trump Jr. and listed on Nasdaq under the ticker ABTC after an all-stock merger with Gryphon Digital Mining last September. Rather than build its own data centers, it runs on Hut 8's existing infrastructure, a structure meant to lower costs for a mining firm starting from scratch.

The venture is one strand of the family's widening crypto footprint. Donald Trump reported roughly $1.4 billion in crypto income on a recent financial disclosure, with digital assets overtaking property as a source of reported earnings. The family's media company, Trump Media and Technology Group, has also moved in and out of Bitcoin, selling an estimated 2,628 coins worth about $165 million via Crypto.com this week after earlier accumulating 11,542 coins at an average cost of $118,522, according to blockchain analytics firm Lookonchain.

Treasury Strategy Faces the Price Test

The wider mining industry has spent 2026 under pressure. The 2024 halving cut block rewards, energy costs have stayed high, and miners have leaned on Bitcoin treasuries and pivots into AI data centers to give investors a growth story. Keeping machines current is a constant drain, since each new generation of rig is faster and more efficient, so capital spending rarely stops.

Losses of this size are not unusual for the sector, which carries heavy upfront spending on machines and electricity. But two consecutive quarters of heavy losses invite scrutiny even for a company that can lean on a larger parent's cost base. Everything, in the end, rides on the Bitcoin price — a treasury of 8,000 coins is a large unrealized gain in a rising market and a heavy weight in a falling one, making the balance sheet as much a bet on Bitcoin as on the mining business beneath it.

For investors, the accumulation tightens supply on exchanges and could push prices higher, but it also concentrates liquidity in a handful of corporate holders. The Trump affiliation adds a political dimension that could shape regulatory sentiment and investor confidence in the sector.

This article is for informational purposes only and does not constitute investment advice.