Bitcoin
American Bitcoin reports $57.2M Q2 loss while expanding treasury to 8,000 BTC
The mining company owned by Trump family members posted a quarterly loss driven by unrealised asset depreciation but continued expanding production and Bitcoin holdings.
American Bitcoin reported a $57.2 million net loss for the second quarter, primarily from a $71.2 million unrealised loss on its digital asset holdings as Bitcoin prices faced downward pressure. Despite the quarterly loss, the company increased its Bitcoin treasury to over 8,000 BTC and showed no signs of reducing its Bitcoin strategy.
The mining operations remained productive regardless of price declines. American Bitcoin mined 932 BTC in the quarter, a company record, while mining revenue rose 8 percent quarter-over-quarter to $67 million. The average cost to mine one Bitcoin remained nearly flat at approximately $36,500. The company completed deployment of over 11,000 next-generation miners, raising capacity to around 28.1 exahashes per second and operating nearly 59,000 active mining machines.
Approximately 3,090 BTC of the treasury holdings have been pledged under miner purchase agreements with Bitmain. Chief Executive Officer Mike Ho stated the company remains focused on long-term value creation rather than short-term price reactions, describing Bitcoin as a growing capital asset where long-term compounding should exceed the company's cost of capital.
Co-founder and Chief Strategy Officer Eric Trump defended the approach, saying the company's conviction in Bitcoin remains absolute and its goal is delivering record production growth, treasury expansion, and stronger mining infrastructure.
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