American Bitcoin lost money again in the second quarter, and kept buying bitcoin anyway. The Trump-family-backed miner reported a net loss of $57.2m for the three months to June, narrower than the $81.8m loss it booked the quarter before.
Mining revenue rose 8% to $67m, and the company produced a record 932 bitcoin over the period. The loss shrank, but a loss it remained, and the first half of 2026 now sits more than $139m in the red.
The strategy behind the figures is to mine and hold rather than sell. American Bitcoin ended June with 8,002 bitcoin on its balance sheet, up 14% on the quarter, with a further 3,090 coins pledged under equipment agreements with the rig maker Bitmain, whose specialised machines are a long way from the mining hardware that ran the early network.
The company is a newcomer built on older foundations. It was created in March 2025 by Eric Trump and Donald Trump Jr, and listed on Nasdaq under the ticker ABTC after an all-stock merger with Gryphon Digital Mining last September.
Its parentage is central to the model. American Bitcoin operates as a majority-owned subsidiary of the North American miner Hut 8, and rather than build data centres of its own it runs on Hut 8’s existing infrastructure, which is meant to give it lower costs than a mining firm starting from scratch.The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!
