Bitcoin
American Bitcoin expands Bitcoin holdings by 981 BTC despite share dilution
American Bitcoin Corp. grew its strategic reserve by 14% in the second quarter, though rising mining costs and a stock price decline temper gains.
American Bitcoin Corp. reported expanding its strategic Bitcoin reserve by 981 BTC, or 14%, over the second quarter of 2026, bringing holdings to 8,002 BTC from 7,021 BTC at quarter-start. The company's outstanding shares increased by only 3%, allowing Bitcoin backing per share to rise from 9,943 to 10,989 satoshis. Management attributed the growth to expansion in both mining and treasury operations.
Mining operations delivered a record 932 BTC during the quarter and generated $67 million in revenue, up 8% from the prior quarter, even as revenue per Bitcoin mined fell 5% to $71,900 due to a 12% decline in Bitcoin's price. The company maintained a gross margin of nearly 50%.
Mining costs remained nearly flat at $36,500 per Bitcoin, up slightly from $36,200, as energy prices rose. American Bitcoin added 3.05 EH/s of capacity during the period by deploying 11,298 next-generation ASIC miners, bringing total miner count to 89,242 with 28.1 EH/s capacity, of which 58,999 miners were operational producing 25 EH/s at an average efficiency of 14.1 J/TH.
Yet despite these operational gains, the company's stock fell 7.38% in the prior day and has declined over 80% year-to-date, with the firm losing roughly $600 million in market value according to a Bloomberg report.
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