The firm’s net loss widened to $57.2 million as digital asset losses totaled $71.2 million, offsetting higher mining revenue.
American Bitcoin reported a $57.2 million net loss for Q2, driven by a $71.2 million loss on digital assets. The company’s BTC holdings rose 14% to 8,002, with 3,090 BTC pledged under miner-purchase agreements.
Mining revenue increased 8% quarter over quarter to $67 million, while the cost to mine each bitcoin averaged $36,500. The firm mined 932 BTC during the period, expanding its total holdings despite the quarterly loss.
No immediate market reaction was disclosed in the report.