Trump-Linked Miner Posts Second Straight Quarterly Loss in Cryptocurrency Market
American Bitcoin Corp., the Trump family-backed miner launched in 2025, posted its second consecutive quarterly loss after a decline in the value of its holdings. The Miami-based company reported a $57 million loss, or 80 cents per share, for the three months ending June 30.
This is the third straight quarter of losses for American Bitcoin Corp., which was launched just before the cryptocurrency market began to decline from record highs in 2025. Revenue rose to $67 million, up from $62 million in the previous quarter, but it wasn't enough to offset the losses.
The company's loss is a stark contrast to its initial promise when it launched with backing from the Trump family. Despite the challenging market conditions, the company's executives are likely disappointed by these results, particularly after investing heavily in the venture.