TLDR
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ABTC shares rise 3.80% as Q2 revenue reaches $67 million and output hits a record.
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American Bitcoin mines a record 932 BTC as total reserves exceed 8,000 BTC.
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A $71.2 million digital asset loss pushes the miner to a $57.2 million loss.
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Mining gross profit reaches about $33 million while margins remain near 49%.
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Nearly 39% of American Bitcoin’s reserve remains pledged under Bitmain deals.
American Bitcoin Corp (ABTC) shares rose 3.80% to $5.73 by 12:49 p.m. EDT after a volatile morning rebound. The miner reported $67 million in second-quarter revenue and expanded its reserve to approximately 8,002 BTC. However, a $71.2 million digital asset loss pushed the company toward a $57.2 million net loss.
Digital Asset Loss Drives Quarterly Deficit
American Bitcoin recorded the digital asset charge within operating expenses during the second quarter. The charge declined from $117.2 million during the first quarter but still exceeded mining revenue. Meanwhile, depreciation and amortization added $28.2 million to total quarterly expenses.
General and administrative costs reached $7.7 million, compared with $6.9 million during the previous quarter. However, an $18.3 million derivatives gain reduced the loss before taxes to $55.7 million. The net loss also narrowed from $81.8 million during the first quarter.
Adjusted EBITDA remained negative at $45 million, improving from a $91.3 million first-quarter loss. American Bitcoin excludes depreciation, derivatives, stock compensation, and selected expenses from that company-defined measure. Therefore, the metric does not replace results prepared under standard accounting rules.
Record Bitcoin Production Lifts Revenue
American Bitcoin mined approximately 932 BTC, its highest quarterly production since launching in March 2025. Production increased from about 817 BTC during the first quarter. The latest output represented roughly 26% of all Bitcoin mined since operations began.
Revenue increased 8% from $62.1 million, although revenue per mined Bitcoin declined about 5%. Each mined coin generated approximately $71,900, compared with $76,000 during the previous quarter. Bitcoin prices fell about 12% over the same period.
The company spent roughly $36,500 to mine each Bitcoin, compared with $36,200 previously. Higher energy expenses at selected locations caused the modest increase. Still, reported revenue and direct costs produced approximately $33 million in mining gross profit.
Bitcoin Reserve Tops 8,000 BTC
American Bitcoin increased its reserve by approximately 981 BTC during the quarter. Holdings rose 14% from about 7,021 BTC to roughly 8,002 BTC. Satoshis per share also increased 11% to approximately 10,989.
However, the company pledged about 3,090 BTC under equipment purchase agreements with Bitmain. Those holdings represented nearly 39% of the total reserve at quarter-end. American Bitcoin retains redemption rights and continued economic exposure to the pledged coins.
Eric Trump co-founded American Bitcoin, while Hut 8 retains majority control. The company owned 89,242 miners with 28.1 EH/s, while 58,999 operational units delivered 25 EH/s. It also energized 11,298 newer machines at Hut 8’s Drumheller site during April.
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