American Bitcoin boosts holdings to over 8,000 BTC, worth $512 million, after mining 932 Bitcoin in its strongest quarter yet.
American Bitcoin, backed by the Trump family, increased its Bitcoin reserve to approximately 8,002 BTC, valued at $512 million, after mining a record 932 Bitcoin in Q2. The company’s holdings rose 14% from 7,021 BTC at the end of March, marking its highest quarterly production since its September launch.
Mining revenue climbed to $67 million from $62.1 million in Q1, while the cost to mine each Bitcoin remained steady at about $36,500. The company narrowed its net loss despite a weaker Bitcoin price during the period, citing a focus on long-term accumulation and operational efficiency.
CEO Mike Ho stated the company views Bitcoin as a growing capital asset, expecting its long-term compounding to outperform capital costs. Gross margin stability was noted despite higher energy expenses.