American Bitcoin’s Q2 Update Shows Its Bitcoin Stack Rising to 8,002 BTC

TL;DR

• American Bitcoin expanded its bitcoin reserve to 8,002 BTC in the second quarter, a 14% increase from the 7,021 BTC recorded in the previous quarter.
• The company mined a record 932 BTC during the period and posted mining revenues of $67 million, 8% more than in the first quarter.
• The net loss was $57.2 million, lower than the $81.8 million of the prior quarter, attributed mainly to unrealized losses on its bitcoin holdings.

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American Bitcoin, the bitcoin mining and reserve firm co-founded by Eric Trump and majority subsidiary of Hut 8, closed the second quarter of 2025 with 8,002 BTC in its treasury, representing a 14% increase from the 7,021 BTC recorded at the close of the first quarter.

The result was achieved thanks to a record production of 932 BTC during the period, the highest in the company’s history. Satoshis per share grew 11% to 11,989, while shares outstanding increased approximately 3%, according to the official press release.

American Bitcoin Posts Its Best Production Numbers

Mining revenues reached $67 million for the three months ended June 30, up from $62.1 million in the prior quarter. The gross margin remained close to 50%, while the mining cost per bitcoin was approximately $36,500, just above the $36,200 of the previous period. Revenue per mined bitcoin, on the other hand, fell around 5% quarter-over-quarter to approximately $71,900.

The company reported a net loss of $57.2 million, a figure lower than the $81.8 million lost in the first quarter. The difference, according to the company, is explained mainly by unrealized losses on the value of its bitcoin holdings during the period.

At the close of the quarter, American Bitcoin had 89,242 owned mining rigs representing a capacity of 28.1 EH/s. The operational fleet totaled 58,999 machines generating 25 EH/s, following the activation in April of 11,298 next-generation units at Hut 8‘s Drumheller site. The company also executed a reverse stock split at a ratio of 1 for 15, the effects of which are already reflected in the quarter’s per-share metrics.

Mike Ho, CEO of American Bitcoin, noted that the results demonstrate the firm’s operational capacity even in a challenging environment for bitcoin: “we delivered our largest quarterly production record, grew our strategic reserve to more than 8,000 bitcoin and strengthened the foundations of our business.”