American Bitcoin, the bitcoin mining and treasury firm co-founded by Eric Trump and a majority-owned subsidiary of Hut 8, said it expanded its bitcoin holdings to 8,002 BTC in the second quarter.
That total marked a 14% increase from the 7,021 BTC held as of March 31 after the company mined a record 932 BTC during the quarter.
Satoshis per share rose 11% to 10,989 as shares outstanding increased about 3%, according to a statement. “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,” CEO Mike Ho said.
According to the statement, mining revenue was approximately $67 million for the three months ended June 30.
The company reported a net loss of $57.2 million, compared with a net loss of $81.8 million in the previous quarter.
