Trumps’ American Bitcoin reports record BTC output, narrower Q2 loss
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- American Bitcoin produced a record 932 BTC in Q2, lifting mining revenue 8% to $67 million from $62.1 million in the prior quarter.
- The net loss narrowed to $57.2 million from $81.8 million in Q1, though the company remained in the red.
- ABTC completed a 1-for-15 reverse stock split last month to keep its Nasdaq listing after shares fell below the exchange's minimum bid requirement.
- Shares closed down 6.4% on Friday at $5.52 ahead of the earnings release, edging up less than 0.5% in premarket Monday trading.
- The company held about 8,002 BTC as of June 30 and had pledged roughly 3,090 tokens under equipment-purchase agreements with Bitmain.
- Hut 8, which majority-owns American Bitcoin, saw it ranked as the 16th-largest Bitcoin treasury company by Bitcoin Treasuries.
Why it matters: American Bitcoin's record 932 BTC in Q2 and narrowed $57.2M loss contrast with a 1-for-15 reverse split executed last month after shares fell below Nasdaq's minimum bid — leaving majority owner Hut 8 exposed to both production gains and listing-fragility risk.
