Trump-Linked Miner American Bitcoin Hits Record BTC Output in Q2

American Bitcoin, co-founded by Eric Trump and Donald Trump Jr., reported record Bitcoin production in Q2. The company's mining revenue increased by 8% to $67 million, driven by higher output of 932 BTC. This lifted the net loss from $81.8 million in Q1 to $57.2 million in Q2.

The Nasdaq-listed miner completed a 1-for-15 reverse stock split last month to maintain its listing after shares fell below the exchange's minimum bid requirement. The company holds about 8,002 BTC as of June 30 and has pledged around 3,090 tokens under agreements with Bitmain to purchase mining equipment.

American Bitcoin was ranked as the 16th-largest Bitcoin treasury company by data aggregator Bitcoin Treasuries at the time of writing.