American Bitcoin Posts Third Consecutive Quarterly Loss Amid Bitcoin Decline
American Bitcoin Corp (ABTC), majority-owned by Hut 8, reported its third consecutive quarterly net loss of $57.2 million for Q2 2026. This decline was largely due to a steep drop in Bitcoin's price, which fell approximately 22% quarter-over-quarter.
The company's treasury strategy has turned from a bold bet into a balance sheet burden. ABTC holds a strategic reserve of about 8,002 Bitcoin built through mining output and direct purchases.
The adoption of fair-value accounting for digital assets, which became standard after FASB's updated guidelines, means companies must mark their crypto holdings to market price every quarter. This can lead to enormous non-cash losses when the market falls.
ABTC isn't alone in this predicament; reports indicate that even Coinbase has posted its third consecutive quarterly loss.