American Bitcoin Posts Record Q2 Output, Narrows Quarterly Loss

American Bitcoin, the Nasdaq listed mining company co-founded by Eric Trump and Donald Trump Jr., reported record Bitcoin production of 932 coins in the second quarter, helping lift mining revenue 8% to $67 million from $62.1 million in the prior quarter.

Losses Shrink Despite Continued Red Ink

The company posted a net loss of $57.2 million for the quarter, a notable improvement from its $81.8 million loss in the first quarter. The results come weeks after American Bitcoin completed a 1-for-15 reverse stock split aimed at keeping its shares above Nasdaq’s minimum bid price requirement following a sharp decline in its stock value.

Stock Performance Remains Under Pressure

Shares of the company, trading under the ticker ABTC, closed down 6.4% on Friday at $5.52 ahead of the earnings release before edging up slightly less than 0.5% in premarket trading Monday.

Treasury Holdings and Equipment Deals

As of June 30, American Bitcoin held about 8,002 BTC in treasury and had pledged roughly 3,090 tokens as part of an agreement with Bitmain to purchase mining equipment. The company, majority owned by Hut 8, currently ranks as the 16th-largest Bitcoin treasury holder among publicly tracked firms.