Bitcoin
American Bitcoin Corp Reports $67M Q2 Revenue Amid $57M Net Loss
The mining firm's second-quarter results show strong operational output and growing reserves despite substantial digital asset impairment charges.
American Bitcoin Corp reported $67 million in second-quarter revenue alongside record production and growing Bitcoin reserves, though a significant impairment charge resulted in a $57.2 million net loss. The stock advanced 3.80% following the earnings disclosure.
The company produced 932 BTC during the quarter, its highest output since commencing operations in March 2025, up from 817 BTC in Q1. Bitcoin holdings grew to approximately 8,002 BTC. Gross mining profit totaled roughly $33 million with margins near 49%, and the company generated an $18.3 million derivative gain that helped limit pre-tax losses.
The net loss was primarily driven by a $71.2 million digital asset impairment charge, substantially lower than the $117.2 million recorded in the prior quarter. Depreciation and amortization added $28.2 million in costs, while general and administrative spending reached $7.7 million. Adjusted EBITDA improved significantly to negative $45 million from negative $91.3 million in Q1.
Approximately 39% of the company's Bitcoin holdings are pledged as collateral in Bitmain equipment agreements. Revenue grew 8% compared to Q1's $62.1 million, though revenue per Bitcoin mined decreased about 5% to approximately $71,900.
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