Bitcoin Magazine
American Bitcoin Reports Quarterly Loss But Boosts Bitcoin Stash
Publicly traded Bitcoin treasury and mining company American Bitcoin’s stock jumped on Monday following news that the firm’s crypto holdings had increased.
The company (NASDAQ: ABTC) reported a second-quarter loss on Monday due to the decline in Bitcoin’s price but still added the largest cryptocurrency to its holdings, boosting its stack from 7,021 to 8,002 coins. Its stock was trading over 5% higher Monday afternoon in New York.
American Bitcoin now has a reserve worth over $510.6 million today’s prices, after the company’s “highest quarterly production on record.” It now has the 16th largest Bitcoin treasury, according to Bitcoin Treasuries data.
“Our conviction in Bitcoin remains absolute, and our goal is simple: to deliver relentless growth, quarter after quarter, and build the preeminent American Bitcoin powerhouse for the long haul,” Eric Trump, American Bitcoin Co-Founder and Chief Strategy Officer, said.
American Bitcoin’s CEO Mike Ho added: “Despite Bitcoin headwinds in Q2, we stayed focused on what we can control: we delivered our highest quarterly production on record, grew our strategic reserve to over 8,000 Bitcoin, and strengthened the foundation of our business.”
“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 continued.
The company, a majority-owned subsidiary of Hut 8 Corp fronted by President Donald Trump’s sons, said that its focus on mining pushed quarterly production to a record, with about 932 Bitcoin mined in the second quarter.
Net loss in the second quarter of 2026 was $57.2 million, compared with a profit of $3.4 million in the same period last year.
Bitcoin miners have faced headwinds this year — and last — as the price of the largest cryptocurrency has dropped in price but the costs and difficulty to mine the coin have grown.
A lot of publicly traded Bitcoin miners have pivoted to the high-powered computing space, providing electricity to the artificial intelligence industry and in turn becoming a more attractive option for a broader swath of tech investors.
American Bitcoin is yet to make the pivot, instead focusing on minting the cryptocurrency and holding it on its balance sheet.
This post American Bitcoin Reports Quarterly Loss But Boosts Bitcoin Stash first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.
Source: BitcoinMagazine
