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Crypto

American Bitcoin Sets New Mining Record with Q2 Production

Guavy AI Editorial Team
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BTC ABT
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American Bitcoin Corp (ABTC) mined a record 932 BTC in Q2, its highest quarterly production yet.

The company's strategic reserve has grown to about 8,000 units as of June 30 and is nearing 8,300 BTC by August 3, according to Eric Trump, Co-Founder and Chief Strategy Officer. The reserve was valued at around $478.9 million in the quarterly report.

The company's net loss narrowed from $81.8 million in Q1 to $57.2 million in Q2, while mining revenue reached $67.0 million, up about 8% from the previous quarter. The cost to mine held near flat at around $36,500 per BTC.

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