American Bitcoin Grows Treasury Reserve to 8,000 BTC as Revenue Hits $67M
American Bitcoin, a bitcoin mining and accumulation platform, reported its second-quarter 2026 financial results on August 3. The company generated $67 million in mining revenue for the quarter ending June 30, an 8% increase from $62.1 million in Q1. Revenue growth was driven by a record 932 bitcoins mined, a 14% sequential increase. The company’s strategic treasury reserve grew to 8,002 bitcoins as of June 30, up from approximately 7,021 bitcoins at the end of March. Q2 production accounted for about 26% of all bitcoins mined by the company since it launched operations on March 31, 2025.
Despite a roughly 12% decline in average bitcoin prices during the quarter, American Bitcoin maintained a gross margin near 50%. Revenue per bitcoin mined averaged $71,900, while the average cost to mine was $36,500 per bitcoin, up slightly from $36,200 in Q1 due to minor energy price changes at select sites.
CEO Mike Ho said, “Our view of the world is simple: Bitcoin is a growing capital asset, and we believe its long-term compounding will outperform our cost of capital. Despite Bitcoin headwinds in Q2, we stayed focused on what we can control: we delivered our highest quarterly production on record, grew our strategic reserve to over 8,000 Bitcoin, and strengthened the foundation of our business.”
Co-founder Eric Trump added, “A little over a year ago, American Bitcoin was just an idea. Today, we hold more than 8,000 Bitcoin, operate one of the world’s largest Bitcoin mining platforms, and just delivered our highest quarterly production on record. Our conviction in Bitcoin remains absolute, and our goal is simple: to deliver relentless growth, quarter after quarter.”
The company also noted an 11% increase in satoshis-per-share to 10,989 as of June 30, reflecting a 1-for-15 reverse stock split executed on July 2. Bitcoin reserves grew 14% during the quarter, outpacing a 3% expansion in shares outstanding.
Key fleet developments included the full energization of 11,298 next-generation miners in April at Hut 8’s Drumheller facility, adding 3.05 exahashes per second (EH/s) of hash rate at 13.5 joules per terahash efficiency. By quarter end, the company owned 89,242 miners representing approximately 28.1 EH/s of total potential hash capacity. The active operational fleet consisted of 58,999 miners delivering 25 EH/s with an average efficiency of 14.1 joules per terahash. General and administrative expenses totaled $7.7 million, remaining flat at roughly 11% of revenue.