American Bitcoin Corp. Boosts Bitcoin Holdings Amidst Slumping Stock Price

American Bitcoin Corp., led by Eric Trump, reported strong Q2 2026 results despite warning signs. The company's mining and treasury operations expanded, driving a 14% increase in its strategic reserve of Bitcoin to 8,002 BTC by the end of June.

Despite lower Bitcoin prices throughout the quarter, American Bitcoin's revenue per Bitcoin mined dropped only 5%, from $76,900 to $71,900. The company's mining revenue increased by 8% to $67 million, and it maintained a gross margin of almost 50%. Mike Ho, CEO of American Bitcoin, said the business 'remained focused on execution' during this period.

However, rising energy prices kept American Bitcoin's mining costs steady at $36,500 per Bitcoin. The company added 3.05 EH/s of capacity to its Drumheller site by energizing 11,298 next-generation ASIC miners and now has a total capacity of 28.1 EH/s.

Notably, despite the strong results, American Bitcoin's stock price fell 7.38% in the last 24 hours and over 80% this year, resulting in a loss of around $600 million in value.