Net loss came to $57.2 million, narrowed from $81.8 million in the first quarter. A $71.2 million non-cash loss on digital assets ran through operating expenses, and the operating loss was $74.1 million while Bitcoin fell about 12% over the quarter.

CryptoPotato reported on the $81.8 million first-quarter loss that landed alongside a then-record 817 Bitcoin mined in May.

Reserve Climbs Toward 8,300 Bitcoin

Eric Trump, Co-Founder and Chief Strategy Officer, said on X that the reserve had grown to roughly 8,300 BTC as of August 3 and described American Bitcoin as the “#16 Largest Publicly Traded Bitcoin Company in the World.”

The company has traded on Nasdaq since its September 2025 debut through a stock merger with Gryphon Digital Mining.

“Our conviction in Bitcoin remains absolute, and our goal is simple: to deliver relentless growth, quarter after quarter, and build the preeminent American Bitcoin powerhouse for the long haul,” Trump noted in the earnings release.

The owned fleet stood at about 89,242 miners and 28.1 EH/s at quarter-end, with the 11,298 Bitmain units that added 3.05 EH/s at Hut 8’s Drumheller site fully energized in April. The operational fleet ran 58,999 miners at 25.0 EH/s.

American Bitcoin valued the reserve at about $478.9 million in its quarterly report, against a Bitcoin price of $59,847 on June 30.

Mining Revenue Up 8%

Mining revenue reached $67.0 million, up about 8% from $62.1 million in the first quarter. Moreover, revenue per Bitcoin mined slipped roughly 5% to about $71,900.

Cost to mine held near flat at about $36,500 per Bitcoin, driven by marginally higher energy costs at selective sites. General and administrative expense was $7.7 million, close to 11% of revenue.

American Bitcoin effected a 1-for-15 reverse stock split on July 2, cutting shares issued from 1,092,295,800 to roughly 73 million. Class A stock resumed split-adjusted trading on The Nasdaq Capital Market on July 6 under the same ticker.

The split was “primarily intended to increase the per-share price” of the stock, the firm stated in its July 1 announcement, and “to maintain compliance with the minimum bid price requirement for maintaining its Nasdaq listing.” Stockholders approved the measure at the annual meeting on June 22.

Source: CryptoPotato