American Bitcoin Crushes Q2 Revenue with Record Production and Treasury Reserve Growth
American Bitcoin's second-quarter revenue reached $67 million, driven by record quarterly production and an expansion of its strategic treasury reserve. The company reported a 14% increase in its digital asset reserve to 8,002 BTC as of June 30.
The Miami-based company generated the revenue despite a 12% decline in the average Bitcoin price during the quarter. Its gross margin remained near 50%, with revenue per bitcoin mined averaging $71,900 and an average cost to mine holding steady at $36,500 per bitcoin.
CEO Mike Ho stated that American Bitcoin views Bitcoin as a growing capital asset, believing its long-term compounding will outperform their cost of capital. Co-founder Eric Trump emphasized the company's conviction in Bitcoin, aiming for 'relentless growth, quarter after quarter.'