American Bitcoin's Daily Production Hits 11-13 BTC Amid Cost Accounting Controversy

American Bitcoin, an affiliate of the Donald Trump family, has disclosed its daily production figures for the cryptocurrency. According to Eric Trump, the company produces between 11 and 13 BTC daily.

The mining operation uses approximately 90,000 rigs, which produced as much as 932 BTC in the second quarter alone. This figure has contributed to a significant increase in reserves, reaching over 8,300 BTC by the end of August, up from 5,401 at the end of 2022.

A 'mine-and-hold' accumulation strategy is employed, with a gross margin of 49%, aiming to capture potential price appreciation through long-term holding. However, discrepancies in cost accounting have sparked debate, with Eric Trump claiming mining costs are $57,000 and Forbes reporting actual costs could reach $90,000 when depreciation, administrative expenses, and financing costs are included.