American Bitcoin grows reserve 14% to 8,002 BTC on record output

American Bitcoin Corp. grew its Bitcoin reserve ~14% to 8,002 BTC in Q2 2026, mining a record 932 Bitcoin as revenue rose 8% to $67.0 million.

"Our view of the world is simple: Bitcoin is a growing capital asset, and we believe its long-term compounding will outperform our cost of capital," Mike Ho, CEO of American Bitcoin, said. "Despite Bitcoin headwinds in Q2, we stayed focused on what we can control."

Mining revenue reached $67.0 million, up from $62.1 million in Q1, while cost to mine held at ~$36,500 per Bitcoin. Net loss narrowed to $57.2 million from $81.8 million. Satoshis per share rose ~11% to 10,989 as Bitcoin holdings grew faster than shares outstanding.

The company completed energization of ~11,298 next-generation miners at Hut 8's Drumheller site in April, adding 3.05 EH/s at 13.5 joules per terahash. With 8,002 BTC worth roughly $500 million at current prices, American Bitcoin ranks among the largest publicly traded Bitcoin holders.

The Miami-based company, majority-owned by Hut 8 Corp., mined ~932 Bitcoin in Q2, representing ~26% of its total production since launching on March 31, 2025. Revenue per Bitcoin mined was ~$71,900, down 5% from ~$76,000 in Q1, but held up better than the ~12% decline in Bitcoin price over the same period. Gross margin stayed near 50%.

The company's total owned fleet consisted of ~89,242 miners with ~28.1 EH/s of capacity as of quarter-end. Post-Drumheller energization, the operational fleet increased to ~58,999 miners producing ~25.0 EH/s at an average efficiency of ~14.1 J/TH. The fleet includes ~3,090 Bitcoin pledged for miner purchases under agreements with BITMAIN.

ABTC shares rose 1.27% to $5.59 in premarket trading Monday. The stock has fallen 72% over the past three months and trades near its 52-week low of $5.05, after a 1-for-15 reverse stock split took effect July 2 to maintain Nasdaq listing compliance. Three analysts cover the stock with Buy ratings — Maxim Group (price target $15), Roth Capital, and H.C. Wainwright — with a median target of $8.

Eric Trump, co-founder and chief strategy officer, said the company aims to "deliver relentless growth, quarter after quarter, and build the preeminent American Bitcoin powerhouse for the long haul."

The company's Q2 results come as Bitcoin miners face margin pressure from declining BTC prices and rising energy costs. American Bitcoin's cost to mine of ~$36,500 per Bitcoin compares favorably to industry averages, according to the company. The company maintains a policy of not selling mined Bitcoin, concentrating its balance sheet exposure to the asset.

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