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ABTC Stock Bounces Back Despite $57M Net Loss and Weakened Bitcoin Prices

Guavy AI Editorial Team
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BTC ABT
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Shares in American Bitcoin (ABTC) stock rose 4.62% to $5.72 on Monday after the company reported record quarterly mining production, despite posting a net loss of $57.2 million in the second quarter.

American Bitcoin mined 932 BTC in Q2, its highest quarterly production since launch, marking a 14% increase from the first quarter.

The company's Bitcoin reserve grew to about 8,002 BTC as of June 30, but Eric Trump, co-founder and chief strategy officer, said it increased to roughly 8,300 BTC after the quarter ended.

Revenue per Bitcoin mined fell about 5% quarter over quarter to nearly $71,900 due to weakened Bitcoin prices during the same period.

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