Trump-Backed American Bitcoin Posts $57M Loss, Yet Adds Thousands of BTC

Despite reporting a $57.2 million net loss for Q2 of this year, American Bitcoin has increased its Bitcoin holdings to over 8,000 BTC.

The company's mining business remained strong, with mining revenue increasing 8% quarter over quarter to $67 million.

American Bitcoin completed the deployment of more than 11,000 next-generation miners, boosting its mining capacity to around 28.1 EH/s.

Chief Executive Officer Mike Ho stated that the company remains focused on building long-term value instead of reacting to short-term price swings.