American Bitcoin Surpasses 8,000 BTC Holdings After Record Q2 Output

American Bitcoin, a Trump family–backed bitcoin miner, said Monday it expanded its crypto treasury to about 8,002 BTC (roughly $512 million) as of the end of June, after posting record second-quarter production of 932 BTC. The company’s holdings rose about 14% from roughly 7,021 BTC at March 31, reinforcing a strategy centered on scaled mining and long-term accumulation. Key metrics — Bitcoin holdings: ~8,002 BTC as of June 30, up ~14% from ~7,021 BTC on March 31. — Q2 production: 932 BTC, the highest quarterly total since the company launched in September. — Mining revenue: $67.0 million in Q2 versus $62.1 million in Q1. — Cost to mine one Bitcoin: about $36,500, broadly stable despite higher energy costs. — Gross margin: about 50%, even as the average Bitcoin price fell roughly 12% quarter over quarter. — Net loss: $57.2 million in Q2, narrowing from an $81.8 million loss in Q1. CEO Mike Ho said the company views Bitcoin as a long-duration capital asset and expects long-term compounding to exceed its cost of capital. He added that management concentrated on operational levers such as production, reserve growth and building a stronger operating base despite headwinds in the quarter. Cofounder and Chief Strategy Officer Eric Trump described the quarter as evidence of rapid execution, saying the company has moved from concept to holding more than 8,000 bitcoin, operating one of the world’s largest bitcoin mining platforms and delivering its strongest quarterly output to date. He reiterated a goal of sustained growth quarter after quarter. Recent context The update follows a volatile period for the miner. In March, American Bitcoin said it had crossed 7,000 BTC less than seven months after its Nasdaq debut, as its shares fell to post-IPO lows and remained about 94% below their peak. In May, the company reported an $82 million Q1 net loss while expanding its treasury to more than 7,300 BTC and increasing its mining fleet to nearly 90,000 machines, attributing part of the reported weakness to accounting treatment linked to Bitcoin’s price. In July, American Bitcoin completed a 1-for-15 reverse split to regain Nasdaq compliance after another share-price drop amid a broader selloff in crypto-related equities. Executive transition Also Monday, President and interim CFO Matt Prusak said he will depart to join AI and energy infrastructure developer Giga Energy as chief business officer and interim CFO. In a blog post, Prusak argued the industry’s binding constraint is shifting from mining hardware to power infrastructure that can support both mining operations and AI data centers. He said Giga Energy has more opportunities than it can pursue simultaneously, and that his role will focus on identifying high-leverage initiatives and building the execution capacity to deliver them. Outlook Ho said American Bitcoin is fundamentally an operating business that generates bitcoin through scaled infrastructure rather than merely holding assets on its balance sheet. He said the company is prioritizing deeper infrastructure advantages, a stronger balance sheet and growth in Bitcoin per share, aiming to translate current investment into durable shareholder value across market cycles. The quarter underscores American Bitcoin’s effort to turn large-scale mining into a growing Bitcoin treasury as Bitcoin prices and investor sentiment around crypto equities remain volatile.