Trump-backed American Bitcoin (ABTC), a prominent Bitcoin mining and treasury company, reported a net loss of $57.2 million for the second quarter of 2026, narrowing from a loss of around $82 million in the previous quarter.
Revenue growth and record production
In its filing for the quarter ending June 30, ABTC reported mining revenue of $67 million, marking an increase of approximately 8% from $62.1 million in the first quarter of the year.
The company’s operating loss for Q2 reached $74.1 million, with the majority attributed to a $71.1 million loss on digital assets.
According to CEO Mike Ho, fluctuations in Bitcoin’s price had a considerable impact on quarterly performance. Bitcoin’s price dropped by roughly 11% during the quarter.
Despite Bitcoin headwinds in Q2, ABTC management remained focused on operational efficiency and production targets, as stated by Mike Ho.
American Bitcoin expanded its Bitcoin holdings to more than 8,000 during the quarter, up 14% from the 7,021 BTC reported in Q1. This growth positioned the company among the leading public holders of Bitcoin assets.
Mining output also increased, with ABTC producing 932 BTC in Q2 2026, up from 817 BTC in the previous quarter, setting a new record for the company’s quarterly production.
Following the release of the quarterly results, ABTC shares rose 1.08% to $5.58 per share, reflecting cautious optimism among investors despite ongoing net losses.
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Reverse stock split and market positioning
In July, ABTC initiated a 1-for-15 reverse stock split, reducing its outstanding shares from approximately 1.09 billion to about 73 million. This move aimed to maintain Nasdaq listing compliance after the stock fell below the required threshold.
Similar steps have been taken by other firms in the sector, including Nakamoto, which completed a 1-for-40 reverse split in May after its share price dropped to $0.15, trimming its share count from 696 million to about 17.4 million.
ABTC remains the 16th-largest Bitcoin treasury company worldwide, holding 8,300 BTC in total, based on data from Bitcoin Treasuries.
The company’s ongoing strategy combines production scaling with financial restructuring to support its position within the competitive Bitcoin mining landscape.
