American Bitcoin, the Bitcoin mining and treasury company co-founded by Eric Trump and majority-owned by Hut 8, significantly expanded its Bitcoin reserves during the second quarter of 2026, surpassing 8,000 BTC after achieving its strongest quarterly mining performance to date.
The company reported that its Bitcoin treasury grew to 8,002 BTC as of June 30, representing a 14% increase from the 7,021 BTC it held at the end of the first quarter. The growth was driven by a record 932 BTC mined during Q2, marking the highest quarterly production in the company’s history.
Record Mining Production Drives Treasury Growth
Despite a challenging environment for Bitcoin miners, American Bitcoin continued to increase its production while strengthening its long-term reserve strategy.
Chief Executive Officer Mike Ho said the company remained focused on operational execution throughout the quarter, emphasizing production efficiency and strategic Bitcoin accumulation rather than short-term market fluctuations.
The record mining output enabled the company to continue expanding its corporate treasury, reinforcing its strategy of building long-term Bitcoin holdings alongside its mining operations.
Revenue Climbs as Operations Expand
American Bitcoin generated approximately $67 million in mining revenue during the second quarter, an increase from $62.1 million recorded in the first quarter.
Although the company reported a net loss of $57.2 million, the loss represented a significant improvement from the $81.8 million loss reported in the previous quarter.
Management noted that the majority of the reported loss resulted from unrealized accounting adjustments tied to changes in the market value of its Bitcoin holdings rather than operational weakness.
Mining Economics Remain Stable
While Bitcoin prices and network conditions continued to fluctuate, the company’s mining economics remained relatively consistent.
Average revenue generated per Bitcoin mined declined modestly to approximately $71,900, reflecting changing market prices during the quarter.
Meanwhile, the average production cost remained largely stable at around $36,500 per Bitcoin, only slightly higher than the previous quarter.
Gross mining margins also remained close to 50%, highlighting the company’s ability to maintain operational efficiency despite industry-wide headwinds.
Mining Fleet Continues to Grow
American Bitcoin also expanded its mining infrastructure during the quarter.
By the end of June, the company owned approximately 89,000 mining machines, representing 28.1 exahashes per second (EH/s) of installed mining capacity.
Its active operational fleet consisted of nearly 59,000 miners producing approximately 25 EH/s, following the deployment of more than 11,000 next-generation mining rigs at Hut 8’s Drumheller facility earlier this year.
The expansion strengthens the company’s ability to increase future Bitcoin production while improving fleet efficiency through newer mining hardware.
Focus on Shareholder Value
During the quarter, American Bitcoin also completed a 1-for-15 reverse stock split, reducing the number of outstanding shares while adjusting its per-share Bitcoin ownership metrics.
Following the adjustment, the company reported an increase in Satoshis per share, indicating continued growth in Bitcoin exposure for shareholders despite a modest increase in total shares outstanding.
Long-Term Bitcoin Strategy
American Bitcoin continues to position itself as both a large-scale Bitcoin miner and a long-term corporate Bitcoin treasury company.
Rather than immediately selling all newly mined Bitcoin, the company has increasingly emphasized retaining a significant portion of production as part of its strategic reserve, mirroring a growing trend among publicly traded mining firms seeking long-term exposure to the world’s largest cryptocurrency.
Although the company’s shares closed lower following the earnings release, management remains focused on expanding mining capacity, improving operational efficiency, and steadily increasing its Bitcoin holdings as it continues executing its long-term growth strategy.
