American Bitcoin Corp. (Nasdaq: ABTC) expanded its treasury to more than 8,000 BTC after delivering its strongest quarterly mining performance to date, increasing production and revenue while narrowing losses despite a weaker market for digital assets.
The Hut 8 majority-owned subsidiary reported on August 3 that it held approximately 8,002 BTC as of June 30, up 14% from 7,021 BTC three months earlier. Quarterly production reached a record 932 BTC, mining revenue increased 8% to $67.0 million, and net loss narrowed to $57.2 million from $81.8 million in the previous quarter.
Record Mining Output Expands Treasury
Quarterly production of 932 BTC represented the company’s highest output since it launched on March 31, 2025, accounting for about 26% of all coins mined since operations began. The larger treasury also improved the amount of Bitcoin attributable to each outstanding share. Satoshis per share rose about 11% to approximately 10,989 as holdings increased 14% against a 3% rise in shares outstanding. Around 3,090 BTC remains pledged under financing agreements with BITMAIN to fund miner purchases.
American Bitcoin also completed the full energization of 11,298 next-generation mining machines at Hut 8’s Drumheller facility in April. The deployment added approximately 3.05 exahash per second (EH/s), increasing the company’s owned fleet to roughly 89,242 miners with a total hashrate capacity of 28.1 EH/s at the end of the quarter.
Chief Executive Mike Ho said the quarter strengthened the company’s long-term strategy of building its treasury through mining operations.
“We delivered our highest quarterly production on record, grew our strategic reserve to over 8,000 Bitcoin, and strengthened the foundation of our business,” Ho said. “We generate Bitcoin through scaled infrastructure rather than simply holding it on a balance sheet.”
Revenue Improves as Losses Continue to Narrow
Mining revenue increased to approximately $67.0 million from $62.1 million in the previous quarter. Revenue generated per coin mined averaged about $71,900, a decline of roughly 5%, outperforming the 12% drop in the asset’s average market price during the same period. Gross margin remained close to 50%.
General and administrative expenses rose modestly to $7.7 million from $6.9 million and represented roughly 11% of revenue. The average cost to produce one BTC held relatively steady at about $36,500, while the company’s net loss narrowed to $57.2 million from $81.8 million. Adjusted EBITDA loss also improved, falling to approximately $45.0 million from $91.3 million. The reported figures reflect the company’s 1-for-15 reverse stock split completed on July 2.
American Bitcoin became publicly listed on Nasdaq in September 2025 following its merger with Gryphon Digital Mining. The company is a majority-owned subsidiary of Hut 8 and was co-founded by Chief Strategy Officer Eric Trump.
The earnings report comes as publicly traded Bitcoin miners continue to face a more difficult operating environment. Artemis data shows the sector gained only about 0.7% on a weighted-average basis over the past three months before declining approximately 16% during the past month. The downturn has coincided with the king cryptocurrency falling roughly 21% over the last 90 days to around the $62,000 level, well below its October 2025 peak near $126,000.