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American Bitcoin Sets Record Bitcoin Production in Narrowly Profitable Q2

Guavy AI Editorial Team
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American Bitcoin, co-founded by Eric Trump and Donald Trump Jr., has reported record Bitcoin production in Q2. The company's mining output lifted revenue by 8% to $67 million from $62.1 million.

The net loss narrowed to $57.2 million from a $81.8 million Q1 loss. American Bitcoin completed a 1-for-15 reverse stock split last month to maintain its Nasdaq listing after shares fell below the exchange's minimum bid requirement.

The company, majority owned by Hut 8, held about 8,002 BTC as of June 30 and had pledged about 3,090 tokens under agreements with Bitmain to purchase mining equipment. It was ranked as the 16th-largest Bitcoin treasury company by data aggregator Bitcoin Treasuries at the time of writing.

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