American Bitcoin Reports Quarterly Loss but Grows Bitcoin Holdings to Over 8,000 Coins
Key Takeaways
- •American Bitcoin reported a Q2 2026 net loss of $57.2 million, compared to a $3.4 million profit in the same quarter a year earlier, largely due to declining Bitcoin prices.
- •The company increased its Bitcoin holdings from 7,021 to 8,002 coins during the quarter, bringing its total reserve value to approximately $510.6 million at current market prices.
- •American Bitcoin mined roughly 932 BTC in the second quarter, representing its highest quarterly production on record.
- •The firm ranks as the 16th largest Bitcoin treasury holder globally among corporate, ETF, and sovereign-level buyers according to Bitcoin Treasuries data.
- •Unlike many competitors that have diversified into AI-related high-powered computing, American Bitcoin continues to focus exclusively on Bitcoin mining and balance sheet accumulation as its core strategy.
Shares of publicly traded Bitcoin treasury and mining company American Bitcoin (NASDAQ: ABTC) rose more than 5% on Monday afternoon in New York after the firm disclosed an increase in its cryptocurrency holdings.
The company reported a second-quarter loss for 2026, driven by a decline in Bitcoin's price, but continued accumulating the cryptocurrency. Its holdings grew from 7,021 to 8,002 coins, giving the company a reserve worth over $510.6 million at current prices following what management described as its "highest quarterly production on record." American Bitcoin now ranks as the 16th largest Bitcoin treasury globally, according to Bitcoin Treasuries data, a ranking that includes corporate holders, exchange-traded fund issuers, and sovereign-level buyers.
"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," said Eric Trump, American Bitcoin Co-Founder and Chief Strategy Officer.
CEO Mike Ho stated: "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.
American Bitcoin, a majority-owned subsidiary of Hut 8 Corp (Nasdaq: HUT), one of North America's largest publicly traded digital asset infrastructure companies, and fronted by President Donald Trump's sons, said its mining focus pushed quarterly production to a record level, with approximately 932 Bitcoin mined during the second quarter.
The company reported a net loss of $57.2 million for the second quarter of 2026, compared with a profit of $3.4 million in the same period a year earlier.
Bitcoin miners have faced headwinds over the past two years as the price of the largest cryptocurrency has declined while mining costs and difficulty have increased. The April 2024 Bitcoin halving cut per-block mining rewards from 6.25 to 3.125 BTC, structurally reducing mining revenue overnight and compressing margins across the sector. Many publicly traded Bitcoin mining companies have since pivoted to high-powered computing, supplying electricity to the artificial intelligence industry to attract a broader range of technology investors.
American Bitcoin has not yet made that pivot, instead concentrating on mining the cryptocurrency and retaining it on its balance sheet. The company's emphasis on compounding Bitcoin per share — a metric that measures holdings relative to outstanding equity and has been adopted by treasury-focused firms as an indicator of value accrual — positions it among companies whose strategy ties long-term shareholder outcomes directly to Bitcoin accumulation rather than diversification into adjacent compute markets.
This article first appeared on Bitcoin Magazine and was written by Mathew Di Salvo.